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NYC Partnership Disputes Lawyers
Partners pool their finances, property, talents and other resources together in pursuit of profits. Written agreements or conduct that shows an intent to be partners can form partnerships. The relationships among partners can bring optimism — and disputes that arise from disagreements about conducting business, distrust and dishonesty.
Our NYC partnership disputes lawyers offer our legal skills, expertise and dedication for those of you caught in these types of disputes.
What Are the Types of Partnership Disputes?
Partnership disagreements involve the sharing of profits and expenses. Under Section 40.1 of the New York Partnership Law, partners are entitled to equal shares of the profits and are obligated to bear the expenses equally — unless a partnership agreement says differently. If the partners agree to divide profits differently, your share of the expenses depends on the share of the profits you agree to take.
Often, an aggrieved partner believes he or she has been excluded from management or even a say in the affairs of the venture. Partners have equal rights to manage and conduct the partnership business and affairs, according to New York Partnership Law Section 40.5. This includes whether and on what terms to enter into contracts, the types of business and clients to accept and hiring or firing of employees.
The usurpation of power or secrecy by a partner often leads to claims that the partner has breached his or her fiduciary duties. All of the partners owe each other a duty of loyalty and to act in the best interest of the partnership as a whole.
A partner’s violations of this fiduciary duty may include treating a sale or other transaction and the money from it as if it belongs solely to that partner. Some partners may use the partnership name and resources to get business solely for themselves or four their own personal interest. Another instance may include keeping secrets about partnership affairs.
In more extreme cases, a partner may be accused of fraud or embezzlement. One of our NYC partnership disputes lawyers can help you investigate and take action if you suspect one or more of the partners have stolen from the partnership or misappropriated business or opportunities. Also, we stand ready to defend accusations that may be levied against you.
What Are the Remedies in Partnership Disputes?
Our NYC partnership disputes lawyers have the know-how and experience to bring or defend claims arising out of disagreements among or misconduct involving partners.
Dissolution: The Divorce for Business Partners
One such action involves dissolving the partnership. New York Partnership Law Section 63 affords partners numerous grounds to ask a court to dissolve a partnership. A sample of these include the inability of the partnership to conduct business without losing money and willful violations of the partnership agreement or other partner misconduct that harms the venture.
Think of a dissolution as a type of divorce. Spouses who decide to end their marriage have property to divide, rights of support for themselves and the children to determine and other financial issues to resolve. When partners dissolve or divorce, the partnership goes through a winding-up process. Here, those who are owed money by the partnership get paid and the remaining property or profits are divided either equally or according to the partnership agreement.
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.
Breach of Contract and Fraud
Dissolution represents just one of the matters often handled or litigated by our NYC partnership disputes lawyers. We also represent partners who want to bring or need to defend lawsuits for breaches of fiduciary duty and partnership agreements, conversion (the wrongful taking and deprivation of partnership property) and fraud.
As to fraud, our NYC partnership disputes lawyers encounter cases of actual fraud and constructive fraud. These types of fraud share many similar elements. Both arise out of a statement of fact that is not true and the party seeking relief was harmed by relying on the belief it was true. Unlike actual fraud, where the person making the statement must intend to deceive (that is, the speaker knows his or her statement is false), constructive fraud arises when the speaker holds a fiduciary relationship and uses it to take advantage of others in the relationship. Partners are considered fiduciaries of each other.
Looking Into the Books
A word of caution. If you’re in a partnership and suspect wrongdoing, you need to consult one of our attorneys about your recourse if you’re not ready to seek a dissolution of the partnership. So long as your partnership exists, you’re not permitted in New York to take another partner to court for fraud, breach of contract or breach of fiduciary duties. You may demand that the partners account for partnership profits and open the partnership books. Our NYC partnership disputes laywers can deliver those demands or file an appropriate action in court for these equitable remedies.
Your Appointment
When you ask one of your NYC partnership disputes lawyers for help in a partnership dispute, we’ll need to see many documents. These include your partnership agreement, partnership tax returns or reports, any financial statements you have received from the partners, demands you have made and responses, and any documents from courts or governmental agencies about your partnership. Once you share your situation, the facts and documents, our NYC partnership disputes lawyers can guide you in either pursuing or defending claims and in resolving your disagreements.
