Reply-To: "Lee Kent Hempfling"
From: "Lee Kent Hempfling"
To:
References: <114.18aac007.2ad42a48@aol.com>
Subject: Re: additional supporting material
Date: Tue, 8 Oct 2002 09:38:28 -0400
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First he needs to pull out his partnership agreement. Should have made one
before
entering into investment as a partner. If there is no partnership agreement
in force
then his recourse is to sue the other partners and demand buy out of his
partner status
at equitable rates. If he has an agreement he has to sue the other partners
(get a
lawyer involved in it quickly!, it will fester to much worse as time goes on
unless it is
stopped at once.) ... either way when a partnership falls apart the ONLY
solution
is for the aggrieved partner to sue the other partners and get out of the
partnership..
His lawyer can recommend actions to take to tie up the partnership's
business
dealings and put severe pressure on the other partners to pay him out fairly
and
equitably as quickly as possible. There are many things his lawyer can do,
everything
from filing a court order to freeze assets, freeze checking accounts,
require forced
third party audits to force the partnership into closure. The other partners
who want
to run the business will only part with the aggrieved partner's portion of
the business
if they perceive that partner will destroy the entire partnership or at
least can no longer
be bullied around. It takes hard ball in a partnership. Then, the next step
is to realize
partnerships are the worse form of business arrangement that can be made.
Don't do
one again... Either incorporate or put his money is a mutual fund.

----- Original Message -----
From:
To:
Sent: Tuesday, October 08, 2002 8:32 AM
Subject: Re: additional supporting material


> LK ... Thanks this is GREAT ...
>
> I'll print out and mail to Mr. S ... today ... Thanks for all the effort
you
> put in to keeping us afloat!
>
> Where can I get some information regarding corporate partnerships as it
> pertains to an equal partner being excluded from company involvement by
the
> other 3 partners, and how the 4th partner can go about recouping his
> investment and other profit losses due to being systematically being
> excluded.
>
> If you haven't guessed, he's black and the other 3 are white. They all
put
> up the same amount of money to form the corporation, and now they don't
want
> to share any of the latest profit gains with him or include him in any
> profitable way. Others have earned money, and nice earnings I might add
over
> the last year, but he has been excluded from this enterprise. Also, they
> routinely have so-called "emergency meetings" and make decisions without
his
> input when they know he is not available to participate in the conference
> calls.
>
> Furthermore, they do not give him proper notice of these scheduled
conference
> calls until the morning of the event, when he is already scheduled to be
> someplace else, doing something else. In other words, they don't allow
him
> the opportunity to offer to them when his schedule allows for him to
> participate and then schedule the conference calls after taking his
> availability into consideration.
>
> Any help with this or if he's able to file any type of complaint would be
> most helpful ... He's in Atlanta and is one of the equal partners for
Millie
> Lewis International ... ;o)
>
> Luv and Hugs ... Hope SQ is feeling better ...
>