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Old 10-26-2011, 09:43 PM
 
1 posts, read 404 times
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We are selling our apartment complex. We had been in business with our partner and father for 10 years. His credit was bad and he waited 7 years to clean it up and from there started doing bad things like taking money from the business account, making demands, etc.

We were supposed to sign today for closing. He refused making more demands. I think this is called extortion. At any rate, we were caught off guard. He wants 80% of everything and we take the bills along with 20%, thus making the deal stink because we will owe more than 20%.

My question is: how do we retaliate?

We just now got a lawyer.
We are trying to negotiate but only have til friday to do so.
Anyone know the law on who owes the taxes.
How bad will we be sued and how can we avoid being sued?

Desperate for answers.
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