QUESTION

my 50% partner wants to dissolution our business and I don't want to

Asked on Jul 24th, 2019 on Business Law - New York
More details to this question:
My brother and I are 50% owners of a 86 year family restaurant that was given to us by our parents.. He wants a dissolution because I won't agree to him taking money without working for it and he wrote himself a check for $10000 in December and a $5000 check to give to Mom, without an agreement from me or any vote on it at the corporate meeting. So he essentially stole the money. What rights do I have against him trying to dissolve the business without my agreeing to it
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
Under the Business Corporation Law, in response to a petition for dissolution you can demand a right to buy him out.
Answered on Jul 24th, 2019 at 1:33 PM

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