Sicklerville, NJ asked in Construction Law, Contracts, Business Formation and Business Law for New Jersey

Q: My brother & I formed a site construction co. 3 yrs. ago, It was agreed that my name would not be listed as an owner

The agreement stipulated that the company would pay my back taxes of about $20000 in the first 6 months of operation at which time I would be listed as an owner.

I solely run the daily operations of this company,all clients were brought with me into this agreement.. In return for investing, my brother agreed he would retain 50% ownership & oversee the financing. We have no written contract, after 3 yrs. of operation & 7 million in receivables, he now has been funneling large sums of money to his personal use, ( 250,000 in materials for his house charged to the business, 4,500 to himself each month disguised as rent) and my back taxes still are not paid so I'm still not listed as an owner. Now with 3 million in contracts this year he has brought in his wife to handle the books which previously was done by my wife. I handle all other aspects of the operation ( bidding, contract negotiations, manpower , purchasing, collections, billing, customer service ) . Do I have any recourse .

1 Lawyer Answer
Leonard R. Boyer
Leonard R. Boyer
Answered
  • Clifton, NJ
  • Licensed in New Jersey

A: You need to retain an experienced litigation attorney who has experience in handling these types of cases. To properly answer your questions and address your concerns, the best way to handle this is by retaining an experienced litigation attorney. You need the best attorney you can afford, do not let geographic considerations be a factor in your choice of an attorney. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price.

Jingzhan Wang agrees with this answer

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