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  1. #1
    Join Date
    Oct 2010
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    1

    Default My Business Partner is an Alcoholic

    My question involves business law in the state of: United Kingdom

    My business partner and I are in a LLP (limited liability partnership) business. After buying into this business i discovered my partner was an alcoholic. Following some set backs he began drinking soon after I bought in. He is not only ruining our reputation (funnily enough customers have noticed and the talk in town is cheap), he is also incapable of doing any work as he literally is sometimes too drunk to stand.

    After a few months of this, he admitted to it being a problem and admitted himself into rehab for several weeks. Following this he returned to work and all seemed to be moving forward again - with him making some sales and contributing toward the business. Sadly we found him drunk again a month ago, basically I said we could no longer take the stress of his damaging the business and being incapable of running it and that I wanted out. He sobered up relatively quickly, and started attending AA meetings with a new set of promises. Today he is drunk.

    My family and I have invested everything into this business, but we dont know what we can do? The business has decreased in value as sales have been so bad since he started drinking - its not worth a fraction that it was 8 months ago. Can anyone help?

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: My Business Partner is an Alcoholic

    What provisions exist in your contract with your partner for buying him out? What other contractual provisions or provisions in the operating agreement did you include in relation to conduct, or your respective abilities to exclude a partner from an active role in the business?

    If you chose not to protect yourself when you bought in, you can expect difficulty doing anything without his cooperation. You can explore dissolving the business, but you will need to review your contracts and operating agreement to see the ramifications of dissolution. You can talk to your partner about potentially buying out his share....

    You may want to run your documentation past a business lawyer.

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