LLC Issues - Please help

[ankman00]

My mom/dad went into a Partnership with another couple for a counter at a food-court. My dad was the only one to put up an initial investment of $25000. Additionally, he created an Operating Aggreement where he stated that no one will be paid until the money is recovered and if a partner leaves, the LLC will be dissolved and the arbitrator will be involved.

Now, the other partner put down some non-refundable deposit for a second counter in the foodcourt. My dad also followed that decision and paid the other half of the deposit along with two month rent. After that was paid, the partner decided he no longer wants to be a part of the first counter while keeping rights to the 2nd counter. Not only that, the landlord refuses to allow my dad rights to the 2nd counter and refuses to return the money claiming that it is "non-refundable".

Now, the other couple want out of the LLC and also want "valuation" of the first counter that my dad put up all the money for and split up the profits/looses. Not only that, they also want anything that was purchased after the counter started running. Meanwhile my parents want to continue running the first counter to recover their costs.

Can anyone suggest any recourse? What would happen to the lease to the first counter if the LLC were to be dissolved? What can we do??? Please help...my dad took a loan out of his retirment money to pay for this and now these crooks want to steal his hard-earned money.

[Additionally, he created an Operating Aggreement where he stated that no one will be paid until the money is recovered and if a partner leaves...]


That should hold up--no funds for them until the 25k is resolved, and if they want out they must do it per the OA,

Also if your dad did not agree to counter 2, it could be a violation of the agreement to go into a competing business while still part of counter 1--and they could be sued for that.

World Law's lawyers could also probably intervene and help resolve this if need be. You may email them on the home page.