Options When a Business Partner Withholds Information Business Records
One primary characteristic of partnership disputes relates to the unfortunate circumstance where one partner controls the business information and denies access to his or her other partners. When disputes occur, information becomes critical.
If you are faced with a dispute or potential dispute with your partners, there are legal tools and resources that can help level the playing field and get you the information that you will need. One “tool” is the New York Partnership Law. Specifically, Article 4 Section 42 of the New York Partnership Law mandates:
- Partners shall render on demand true and full information of all things affecting the partnership to any partner or the legal representative of any deceased partner or partner under legal disability.
Violation of this provision can and very often serves as a basis for litigation and injunctive relief. While litigation should be avoided (if possible) setting your partnership rights without necessary information should also be avoided.
For additional information about New York partnership disputes and how a partnership lawyer can help level the playing field, contact Charles N. Internicola, Esq. at (800) 976-4904 or (718) 979-8688.
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