The construction industry is fraught with costly legal traps. Let us guide you around the danger spots, and take your side when trouble arises.

Need injunction against business partner?

| Dec 7, 2020 | Business |

Is your business partner secretly taking money from the company? It is not uncommon for partners to take advantage of their position. We not only seen partners take advantage of their situation, we have also seen investors defrauded by company representatives seeking capital infusion. They have been willing to say anything to bring the money in. We have seen false representations about a new product launch that was never going to happen…and product sales that were never going to occur.  If you find yourself in a situation as an investor or a partner in a business and you are prevented from seeing bank statements, contact one of our experienced attorneys. You may need a temporary injunction to prevent more money from disappearing or to get your money back.

The purpose of a temporary restraining order is to preserve the status quo of the subject matter of the litigation until a preliminary hearing can be held on an application for temporary injunction. Cannan v. Green Oaks Apts., Ltd., 758 S.W.2d 753, 755 (Tex. 1988). There should be a present, real, and substantial threat that the company will permanently destroy financial records and remove money from all bank accounts controlled by the individuals if given notice of this application. The money/property held at a number of financial institutions may be in danger of being lost, removed, or materially depleted. Companies in these situations needed a temporary injunction may be in imminent danger of insolvency. You can request a temporary restraining order that restrains, prohibits, and/or enjoins defendants from removing, transferring, withdrawing, converting, or accessing funds, assets, or bank accounts and/or funds that were on deposit in any account held or owned by the defendants. You may want to prevent them from destroying and/or deleting any documents, evidence, and records.

You may be able to request a temporary injunction and a permanent injunction order that restrains, prohibits, and/or enjoins defendants from removing, transferring, withdrawing, converting, or accessing the company’s funds. You may want to prevent your partner from opening and/or attempting to open any new bank accounts with any financial institution. Do you believe that your partner is wrongfully using company funds? A business lawyer with experience in litigation can help give you options and strategies.

If you would like to speak with an experienced litigator, you are welcome to contact The Weaver Law Firm at 713-572-4900.

 

Archives

FindLaw Network

Contact us today