About 10 years ago, I ran a small business with my partner for about two years. As my visa was about to expire, I wanted to use the business to apply for a visa for myself. The condition was that I needed to transfer my shares to my partner. So, he had me sign a very sloppy transfer statement, saying that I gave him my shares for $0. It wasn’t done with a lawyer, and it was all very informal.
Of course, after I signed, he immediately transferred the shares to his name, and I ended up with nothing — no visa, no money, nothing at all. Later, a lawyer looked at the document and told me it had absolutely no legal validity, that it was far too sloppy, and that I would definitely be able to get my shares back.
At that time, I tried to take legal action by having a lawyer send him a letter, but I didn’t have a visa to return to Australia, and I was very poor — the business was my only asset.
Now, 10 years later, he has already closed the company, and I’m back in Australia. The company was small, only worth a few tens of thousands of AUD back then, probably between 50,000 and 80,000 AUD. I just want to take action for the principle of the matter. I’m wondering if I can still apply for a legal extension and take action against him now?
Of course, after I signed, he immediately transferred the shares to his name, and I ended up with nothing — no visa, no money, nothing at all. Later, a lawyer looked at the document and told me it had absolutely no legal validity, that it was far too sloppy, and that I would definitely be able to get my shares back.
At that time, I tried to take legal action by having a lawyer send him a letter, but I didn’t have a visa to return to Australia, and I was very poor — the business was my only asset.
Now, 10 years later, he has already closed the company, and I’m back in Australia. The company was small, only worth a few tens of thousands of AUD back then, probably between 50,000 and 80,000 AUD. I just want to take action for the principle of the matter. I’m wondering if I can still apply for a legal extension and take action against him now?
