Sale of family business information
The family business my brother was running but DID NOT own was sold last year. My brother lied to the buyer, said he owned the company which he did NOT, my mother owned it but died without a will and we are the remaining equal heirs. Yes I have hired an attorney, but my brother is refusing to turn over the documents, moved out of state and attempted to hide his address. I don’t know who has a record of the sale, somebody has to. According to D&B it was bought with assets and liabilities and is operating under the same DUNS#. I am trying to find where the record of that sale could be located. The money involved in this transaction could exceed one million dollars, as the business in its prime made between 8 -10 million dollars a year. I would rather try to find this out on my own and save some money on attorney fees. I think the buyer was a family friend and took my brother at his word that he was the owner. I really don’t want the family friend to find out he was played for a fool.
This sounds like a violation of the family trust, and possible fraud. Fit Small Business isn’t a licensed legal service. We recommend you contact a lawyer asap as you may need to file for damages.
Here are some resources that may help.
Best wishes to you in resolving this!
Laura, Staff Writer
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.