Memphis, TN asked in Business Law for Tennessee

Q: Can I sue a business partner for expenses that were accrued on my personal credit card before the formation of the llc?

I formed a business with 4 other individuals. We have decided to dissolve the business. We have split the debt (accrued before and after the formation of the llc) equally. The charges were made on 2 partners personal credit cards. We all have made monthly payments on the card. I have informed everyone each month of the total amount due since 2018 and it has never been an issue. Two of the partners have requested to see the statements. I have denied requests to the statements. I have not made any purchases nor has the other partner whose credit card was used. They have threatened to withhold their monthly payment until they review the statements. If they follow through, then this will put me in a financial hardship. Can I sue them for breach of fiduciary duty once the begin withholding payments?

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1 Lawyer Answer
Mr. James Charles Wright
Mr. James Charles Wright
  • Knoxville, TN
  • Licensed in Tennessee

A: You can file a suit- but in the suit they will be entitled to request copies of any proof of the debt- which may include the credit card statements.

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