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FOLLOW THROUGH ON POST SALE OF INTEREST

By CPG

Unfortuantely I have another war story of someone who did not do their due diligence upon ending their business relationship.

We represent a business man who operated Chinese restaurants. He owned a restaurant with a partner who bought him out of his share. They signed a dissolution agreement however our client was not represented by a lawyer or an accountant and he trusted his former partner.

Cut to the chase his former partner failed to remove our client of the DTE Energy bill and now our client is saddled with a $67,000 energy bill on his old restaurant. We can sue the former partner but apparently he is on the verge of bankruptcy.

I preach that you develop a close inner circle of business advisers whether bankers, accountants, and or lawyers who can help protect yourself.

www.lawcpg.com

Full post as published by MICHLAW on November 13, 2007 (boomark / email).