chris198 Posted May 1, 2007 Share Posted May 1, 2007 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 Link to comment Share on other sites More sharing options...
RAZZELL Posted May 1, 2007 Share Posted May 1, 2007 Has he sold his "half"...or your "half" as well???? RAZZ Link to comment Share on other sites More sharing options...
Shah Jahan Posted May 1, 2007 Share Posted May 1, 2007 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. Link to comment Share on other sites More sharing options...
chris198 Posted May 1, 2007 Author Share Posted May 1, 2007 Has he sold his "half"...or your "half" as well???? RAZZ He sold both halves Link to comment Share on other sites More sharing options...
blizzard Posted May 1, 2007 Share Posted May 1, 2007 (edited) 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 Link to comment Share on other sites More sharing options...
sierra01 Posted May 1, 2007 Share Posted May 1, 2007 '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? Link to comment Share on other sites More sharing options...
Cyberstar Posted May 1, 2007 Share Posted May 1, 2007 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. Link to comment Share on other sites More sharing options...
donx Posted May 1, 2007 Share Posted May 1, 2007 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. Link to comment Share on other sites More sharing options...
sierra01 Posted May 1, 2007 Share Posted May 1, 2007 Well chris198, is it a Thai business? Link to comment Share on other sites More sharing options...
The Skipper Posted May 1, 2007 Share Posted May 1, 2007 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. Link to comment Share on other sites More sharing options...
soundman Posted May 2, 2007 Share Posted May 2, 2007 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. Link to comment Share on other sites More sharing options...
blizzard Posted May 2, 2007 Share Posted May 2, 2007 (edited) 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 Link to comment Share on other sites More sharing options...
Wellyoudidask Posted May 2, 2007 Share Posted May 2, 2007 Well chris198, is it a Thai business?How could he sell it all if he only owned half ? we need to know more Link to comment Share on other sites More sharing options...
JimmyTheMook Posted May 2, 2007 Share Posted May 2, 2007 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 ? Link to comment Share on other sites More sharing options...
chris198 Posted May 3, 2007 Author Share Posted May 3, 2007 Thanks everyone I had enough input from all of you for the moment. Link to comment Share on other sites More sharing options...
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