My son and I opened a corp back three years ago, To this day he refuses to show me anything or give me any money.

Business 2 views 3 answers
He will not show me any books, I have proof he just sold a lot of ours for 48 grand. he will nbot pay me my share what can I do ? isnt that ilegal

Attorney Answers

3
teven Nathan AinbinderInsurance Law LawyerBoca Raton, FL ·
You need to provide more information and this is not the venue to do that. A corporation just protects the owners of the corporation from personal liability if the corporation is found responsible for damaging someone or another business. Was the purpose of opening the corporation to make you both money? Did you and your son have an agreement as to the type of business you were going to operate? Did you put any money into the business? This is a civil matter. If your son owes you money and is refusing to pay you, you will have to sue him. I am sorry to see that money ruins family relationships. Good luck
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Joseph Percopo ·
I agree with my colleague. A few other general comments though, if you are a shareholder in the business, then you have a right to records and information. If distributions have been made to one shareholder but not you, then you also have a claim. To assert the previous rights, you would need to be able to prove your ownership in the business (contribution of capital, labor, etc + a plan to form a business relationship). But again, all of these issues are civil and will need to be settled in court if your son will not willingly cooperate with you.
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Adam A StudnickiPersonal Injury LawyerScottsdale, AZ ·
If you are an owner of the business, you have certain rights. Depending on where the corp was formed, those rights may include the right to inspect certain books and records. Talk to a local business litigation lawyer for specific advice on your situation.
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