QUESTION

Hello, I''m the only director as my partner resigned this week as a CFO. If I too resign as a director/officer, can I still do required Corp banking?

Asked on Jun 06th, 2012 on Business Law - New York
More details to this question:
He hasn''t filed the taxes since 2009 as it was his responsibility. Now, he wants all financial related documents with in 5 days. He had access to all documents until he resigned. He holds only 10% of shares now, but he did owned the majority of shares since inception in 2006 until 2011.
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3 ANSWERS

Matrimonial Law Attorney serving New York, NY at Law Office of Gerry Wendrovsky
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If you resign, it does not seem reasonable to believe that you can still engage in financial transactions. Frankly, it sounds as if there were financial improprieties. Moreover, just because one resigns does not mean that there will be future individual responsibility. Being a director requires complying with fiduciary duties on behalf of the entity. You should consult with qualified counsel. Gerry Wendrovsky, Esq.Upper West Side Business Lawyerwww.upperwestsidelawyer.com    
Answered on Jun 26th, 2012 at 10:25 PM

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Business Transactions Attorney serving Los Angeles, CA at Doland & Fraade
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I am not licensed in New York and the following is general legal analysis, not legal advice. You should not jump out of the boat and then look for a life raft and a paddle. You should immediately copy all financial information in hard copy in the company files and on all company computers. You should not engage in any transactions unless and until you have consulted a local New York attorney. The more you reduce your story to writing, with backup exhibits, the better service your New York attorney will be able to give you and it will save you attorney fees.
Answered on Jun 14th, 2012 at 11:55 AM

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Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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The duplicate of this question has been responded to.
Answered on Jun 06th, 2012 at 9:10 PM

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