QUESTION
Buy-out by partner over period of 10 yrs.; in 7th year partner dissolves business, but merges with another business to continue same work
Asked on Jun 06th, 2012 on Business Litigation - Texas
More details to this question:
The buy-out agreement states the partner may dissolve the business therefore not paying out the agreed upon price. But the buy out partner only merges his company with another company continuing the same kind of work. Does the former partner have any recourse to get all of his money?
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An answer to your question will require an attorney with whom you have an attorney-client relationship to review not only the buy-out agreement but also the documents that relate to the purported "merger" about which you inquire. It is impossible to answer this question from the information provided. What looks to you to be a "merger" may be precisely a dissolution and then subsequent investment in the continuing business, so this knowledge is critical.
Answered on Jun 06th, 2012 at 9:40 AM