Me and my ex- business partner purchased a takeaway shop with two other guys in June 2015 for his visa purpose. From June 2015 to Dec 2016, the shop was under the different company name and our names weren't in that company at all. The shop had 4 partners (25% each person shares). It wasn't on documents, but we had a verbal agreement.
In Dec 2016, me and my ex-business partner purchased that shop fully and shares were 50% each between us. We decided to create a company under my name because he wanted to apply for a visa, so the company was created under my name.
From January 2017 onwards, the shop was not doing well so I asked my partner to sell the shop, but he was insisting me not to sell. In June 2017, the immigration department refused his visa and he asked me if he can sell his share to one of our workers who was interested in buying the 50% share of the shop.
I said to him, we’ve already decided before that I would sell my share first and he agreed on that but somehow, he emotionally blackmailed me that he has no visa to stay in Australia and he has to feed his three kids blah blah...
So, I said yes to him. During all this time I wasn't interested in the business and I hardly received $1000 profit from 2015 to 2017 because I was doing my job in the city and earning good money from the job.
Anyways, He said to me he will help me to sell this shop and will try to get a good offer for me. As I said above I had no interest in running this shop and I hardly used to go on the shop because it was 100km away from my place.
After some time, I noticed my ex-b.partner is not showing any interest in helping me and telling everyone that he has sold his share so he has nothing to do with that shop anymore. During his time in the shop he never gave me any financials but during Tax and GST lodgement he asked me to sign the accountant documents and I did that too. After some time, I got to know that he provided the wrong financials for Tax and GST.
Now I am trying to sell this shop and asking him to give me the financials, he is refusing to give me the financials.
Everyone knows he was the owner of 50% share and he used to run the shop. Most of the employees know that I never run the shop.
I have all the witnesses, some documents and an email from him at the time of selling his share.
I would like to know what disputes I can file against him.
And if he loses the case, what would happen to him? He has no working rights now because his visa application is currently under process with Migration Review Tribunal and he does tax evasion too.
In Dec 2016, me and my ex-business partner purchased that shop fully and shares were 50% each between us. We decided to create a company under my name because he wanted to apply for a visa, so the company was created under my name.
From January 2017 onwards, the shop was not doing well so I asked my partner to sell the shop, but he was insisting me not to sell. In June 2017, the immigration department refused his visa and he asked me if he can sell his share to one of our workers who was interested in buying the 50% share of the shop.
I said to him, we’ve already decided before that I would sell my share first and he agreed on that but somehow, he emotionally blackmailed me that he has no visa to stay in Australia and he has to feed his three kids blah blah...
So, I said yes to him. During all this time I wasn't interested in the business and I hardly received $1000 profit from 2015 to 2017 because I was doing my job in the city and earning good money from the job.
Anyways, He said to me he will help me to sell this shop and will try to get a good offer for me. As I said above I had no interest in running this shop and I hardly used to go on the shop because it was 100km away from my place.
After some time, I noticed my ex-b.partner is not showing any interest in helping me and telling everyone that he has sold his share so he has nothing to do with that shop anymore. During his time in the shop he never gave me any financials but during Tax and GST lodgement he asked me to sign the accountant documents and I did that too. After some time, I got to know that he provided the wrong financials for Tax and GST.
Now I am trying to sell this shop and asking him to give me the financials, he is refusing to give me the financials.
Everyone knows he was the owner of 50% share and he used to run the shop. Most of the employees know that I never run the shop.
I have all the witnesses, some documents and an email from him at the time of selling his share.
I would like to know what disputes I can file against him.
And if he loses the case, what would happen to him? He has no working rights now because his visa application is currently under process with Migration Review Tribunal and he does tax evasion too.
