Partner Plans to Close Business Office and Reopen a Solely Owned Office

[thomaskaye]

Hello,
My partner and I own a business for the last 20 years with offices in 2 countries in the Middle East and one office in China. We have recently decided to dissolve this partnership. The agreement was for me to sell my shares to my partner. Everything was going smooth until we came to the point where he would buy my share of the China office (which is the most profitable and therefor my share costs as much as the two other offices together). I have 25% in the China office while my partner and his son have the other 75%.

It has come to my attention that he plans to close this company and re-open under a new name, thus leaving me with nothing to sell!!! The business is healthy, stable and very profitable.

What can I do?

Thank you in advance.

[aaron]

This is a U.S. forum, and it isn't clear that your situation in any way involves U.S. law.