You’ve worked hard to get where you are. You may now need to fight harder to keep it.
There’s different ways people can carry on a business. For example, it can be in your own name, through a company or a partnership. What follows from that is there are different ways a dispute might be resolved because different laws can apply.
Irreconcilable differences between business partners often happens. Someone has suggested that funds have been used improperly. The honeymoon period is definitely over.
Or perhaps what originally started as an exciting and new joint venture between people with a common aim has gone sour because one of the partners has not held up their end of the deal.
Maybe it’s the case that goods you’ve supplied or leased to a customer have not been paid for and the customer has gone into liquidation. The liquidator is now asserting that your goods are theirs.
Inaction may jeopardise your rights or adversely affect the outcome you might have obtained had you done something sooner.
Act now by calling a commercial lawyer.
Fallen out with your partner? Have you received a notice of dissolution of partnership or want to issue one? The appointment of a receiver might be appropriate. Call us to discuss the best steps you should take.
Have you got a joint venture agreement in place and if so, does it set out what should happen given the current dispute? What’s the profit-sharing arrangement? Get some advice on where things stand and what should happen before the joint venture becomes disjointed.
This is a complex area of law. No longer is “possession 9/10ths of the law”, as it is often said. Now, what’s paramount is whether you have your security interest registered on the Personal Properties Securities Register.