VIC Business Partner Refusing to Pay - What to Do?

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27 January 2017
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Hi,

I just bought a small business recently. I put all the money to buy the business. I just made a company with another guy to buy the business on 50-50 share. He promise he will give me money soon but now he refuses to give me and he said he is half owner.

What can I do under commercial law because I put all the money?
 

Rod

Lawyer
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27 May 2014
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Get legal advice from a lawyer. They will need to examine the paperwork (agreements/emails/SMS/etc) you have to work out the best way forward.
 

Hayder Shkara

Lawyer
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16 January 2017
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Palwinde,

Who bought the business - you, or the company that you created?

What is the structure of the company? Who are the directors and the shareholders?
 
27 January 2017
2
0
1
Palwinde,

Who bought the business - you, or the company that you created?

What is the structure of the company? Who are the directors and the shareholders?
We made a company that was bought, though company we are both directors and shareholders of 50-50.

I just trusted him nd he promised he would give me money but now he has refused.

What are my options?
 

Hayder Shkara

Lawyer
LawConnect (LawTap) Verified
16 January 2017
121
25
454
Sydney, NSW
www.neatlaw.com.au
Although verbal contracts are binding, they are difficult to prove in court.

Was the promise noted in writing anywhere, or in front of other witnesses?

It may not be worth fighting depending on how much you are fighting over. Do you want to disclose that in this forum or give me a call to discuss?