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The issue is that the business is insolvent and the other partner wishes to continue trading on a hope and a prayer. This partner is not prepared to risk further losses as the assets do not equal liabilities and the level of debt whilst manageable now will not be if there are further losses.
Hi all, I was a senior executive with over 35 years of experience, most of it working abroad in Countries such as Hungary, Russia, Egypt, India and the Middle East. I am now semi retired, and want to help others. I believe I van add value as follows:-
To organisations; wishing to expand into...
Is it possible to terminate a partnership business if there is no partnership agreement? Any ideas where I can get the correct copy for such a termination, and in law what constitutes 'serving' a termination notice? If it's allowed, can anyone recommend a law firm that can help me - that...