QUESTION

Can my ex-business partner sue me for closing the company bank account that was in my name?

Asked on Sep 23rd, 2016 on Business Litigation - California
More details to this question:
My business had a business bank account in my name. My partner became abusive and reckless so I separated from the business and closed the account in fear that he would forge my signature on checks to make the account go delinquent. He is now saying he is going to sue me for punitive damages. Does he have a case?
Report Abuse

1 ANSWER

Business Litigation Attorney serving Oakland, CA
Partner at Bay Oak Law
3 Awards
If you used the account as a business account, the assets in the account belong to the business (whether it is a partnership, corporation, or LLC). You say that it is in "your name," but it isn't clear to what extent the ex-partner had access to it. I don't take your ex-partner's claims of suing you to be especially worrying. Assuming you are a partnership, unless there is a written partnership agreement to the contrary, you have the right to withdraw from the partnership for any reason. Once the business relationship ends, there has to be an accounting to pay vendors, finish business for clients, and lastly, distribute any remaining assets to the owners. If you worried about your physical safety, don't wait -- you need to consult with a lawyer about your specific facts and concerns. Contact a good business litigation lawyer in your area as soon as you can.
Answered on Sep 24th, 2016 at 8:51 PM

This answer does not mean I am your lawyer. No attorney-client relationship exists. This response is for general information only.

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters