Macon-Bibb County Business Dissolution Lawyers
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Dissolution of a business partnership in Georgia involves a variety of complex tasks. Whether your situation is a voluntary dissolution or one party wants to terminate the partnership, the Macon-Bibb County business attorneys at Cooper, Barton & Cooper can guide you through the process to ensure all legal requirements are met.
To dissolve a business partnership, the following must be carried out:
- Reviewing the partnership to determine if guidelines are spelled out for dissolution.
- Voting to determine if the majority of partners agree to the dissolution.
- Pay debts related to the partnership.
- Distribute remaining assets, after debts are paid.
- Notify all clients, suppliers, and creditors of the dissolution.
- File a final tax return and close tax accounts.
When Parties are Not in Agreement
Ideally, the parties to the partnership should agree to the dissolution. However, this is not always the case. When the partners fail to come to an agreement, there are a few possible solutions. In some cases, the partnership agreement may offer direction about how to resolve the dispute. It may be advisable to have a mediator help the partners resolve their disagreement or one partner may opt to buy out the other. When no solution can be found, it may be necessary to have the court intervene.
Your Macon-Bibb County business dissolution lawyer can discuss the specifics of your situation and advise you about the best course of action for your specific situation. Our attorneys provide a personalized approach for every client, taking the time to fully understand your situation and goals for dissolving your partnership. We work with you to create and execute a plan to help you achieve your goals.
For assistance with business partnership dissolutions in Macon-Bibb County, GA, contact Cooper, Barton & Cooper at (478) 202-7050.
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