Business Partnership Gone Sour

[chris198]

My "ideal" semi-retirement business partnership (50/50) in Patong Beach/Phuket has gone sour. My farang partner onsold the business without my knowledge and has pocketed all the proceeds (several million baht) and has gone into hiding. Has anyone any suggestions how to proceed? Or know of a good english speaking lawyer in Patong who would handle the case on a 'contigency basis' (important)?

Advise would be much appreciated

[RAZZELL]

Has he sold his "half"...or your "half" as well????

RAZZ

[Shah Jahan]

My "ideal" semi-retirement business partnership (50/50) in Patong Beach/Phuket has gone sour. My farang partner onsold the business without my knowledge and has pocketed all the proceeds (several million baht) and has gone into hiding. Has anyone any suggestions how to proceed? Or know of a good english speaking lawyer in Patong who would handle the case on a 'contigency basis' (important)?

Advise would be much appreciated

i would contact the "russian laywers" in pataya or maybe the upstanding lawyers who work their day jobs for the royal thai police. If that fails then perhaps you can contact the chinese chiu chow lawyers, inquire at your local pool hall. Be aware that all of these 'lawyers' will probably get the job done but charge a substantial fee.

But seriously man - the chances of this going to a Thai court and you getting a ruling is about the same as it snowing in chaing mai.

. if you aren't prepared to do this the 'Thai way', you might as well forget about your money.

[chris198]

Has he sold his "half"...or your "half" as well????

RAZZ

He sold both halves

[blizzard]

can you describe an ideal partnr so we can learn.

me thinks you were a fool into doing busnit with this fellow.

Edited May 1, 2007 by blizzard

[sierra01]

'But seriously man - the chances of this going to a Thai court and you getting a ruling is about the same as it snowing in chaing mai'.

I'm sure I read somewhere that it really did snow in Chiang Mai once, I think it said 1955, for the life of me I can't find the article now!

How can you have a 50/50 partnership in a Thai business, I though it was 49/51 max?

[Cyberstar]

I'm not sure I'd give up as easy as suggested ... After all - knowing only, what chris has revealed here - it might be the buyer that has a problem ... I assume there are shares, bearing chris's name involved, where are they? What kind are they? ... Besides, what does the minutes from the shareholder meeting, that decided to sell the company, say? Who has signatory rights, etc ...

Just because some guy pays money to some other guy - who happens to have some sort of partial ownership of something - doesn't automatically make that first guy the legal owner ... For all I (and the previous "advisors") know, it could be that the only one scammed is the buyer.

[donx]

How can you have a 50/50 partnership in a Thai business, I though it was 49/51 max?

The OP didn't say it was a Thai business.

[sierra01]

Well chris198, is it a Thai business?

[The Skipper]

Sounds to me like the buyer was screwed.

Go to work and throw his a** out.

Let him worry about it.

Your partner disappeared so you are 100% owner now.

Nice.

[soundman]

If it was a legitimate business with all the paperwork done etc., you're "half" cannot be sold without you're consent. The buyer will be the person to get stung. A bit like buying a second hand car that is still under finance with previous owner. You may get the keys & be able to drive off, but when the finance company comes a lookin, you'll have to give it back because they are the rightful owners of the vehicle.

If you have bought into a business on a handshake, wink & a nod - but have done nothing in the way of formal partnership documents or formal company documents, you have no legal recourse whatsover.

Cheers,

Soundman.

[blizzard]

maybe it wasnt an official partnership. just the guy invsting some money on a handshake.

these post r basically useless coz we dont have 99% of the info needed to make our silly comments......lol.

Edited May 2, 2007 by blizzard

[Wellyoudidask]

Well chris198, is it a Thai business?

How could he sell it all if he only owned half ? we need to know more

[JimmyTheMook]

My "ideal" semi-retirement business partnership (50/50) in Patong Beach/Phuket has gone sour. My farang partner onsold the business without my knowledge and has pocketed all the proceeds (several million baht) and has gone into hiding. Has anyone any suggestions how to proceed? Or know of a good english speaking lawyer in Patong who would handle the case on a 'contigency basis' (important)?

Advise would be much appreciated

What kind of a bar was it ?

[chris198]

Thanks everyone I had enough input from all of you for the

moment.