CALL US TODAY

(727) 785-5100

FOR A BUSINESS LAW CONSULTATION

My Business Partner Locked Me Out of Bank Account. Now What?

Written on March 7, 2019

You may never anticipate to run into problems with your business partner, but people react in unexpected ways when things aren’t going so well with a company. One day, you could be conducting routine business operations and suddenly find you were locked out of your bank account. After you have your shock and anger under control, your first step should be consulting with a lawyer who will protect your rights. From there, a Clearwater, FL partnership disputes attorney can help with the next steps to resolving your situation. Depending on your situation, a resolution strategy may include:

  1. Identify Areas of Dispute: Though it seems logical and simple, many business partners overlook this essential first step. You need to pinpoint areas of dispute if you stand any chance of resolving them. Partners can often reach a compromise when each one understands why the other is dissatisfied. Whether the issues are financial or related to how the company is being operated, it’s helpful to view the bigger picture as smaller, individual points of disagreement.
  2. Communicate Proposed Resolutions: Once you have a list of contentious issues, you can start discussing ways to resolve them. Often, there must be a give and take to come to an agreement that satisfies each partner’s needs. In addition, it’s common to reach an accord on some disputes – while others remain unresolved.
  3. Consider Options for Dispute Resolution: If you’re unable to agree on areas of dispute, you may need to take things to the next level with official dispute resolution strategies. Mediation is one option, where you and your business partner meet to discuss your disagreement with a neutral, third party. A professional mediator is specially trained and certified to assist with dispute resolution, by encouraging productive conversations regarding your situation. In many cases, you can come to an agreement and move forward. Arbitration may be another option, where you hand over dispute resolution to someone else to make a decision. This method is more extreme, as most forms of arbitration require you to comply with the findings of the arbitrator. With mediation, you’re not bound by the process and can still take the matter to court.
  1. Planning for the Future: Even if you’re successful in resolving your partnership dispute, you should consider taking action to avoid future bank account lockouts or other disputes. One option is to amend your partnership agreement or other company documents to include provisions on dispute resolution. You should also talk to your bank about restructuring your account details, such as requiring two or more signatures when one partner wants to take designated actions.

Talk to a Clearwater Partnership Disputes Lawyer About Your Situation

With an attorney’s help, it’s possible to prevent contract disputes from turning into expensive business litigation. A lawyer can assist with communication, and can represent you in mediation and other forms of dispute resolution. To learn more about how we serve business owners in Clearwater, FL and Pinellas County, please contact Clearwater Business Law. We can schedule a consultation to review your matter and discuss strategies for settling partnership disputes, call (727) 785-5100.

 

TESTIMONIALS

I strongly endorse Andrew Mongelluzzi. He is a very skilled and able business attorney focused on customer service and results. On the front end, Andrew deftly advises new businesses on organizing properly, acquiring necessary licenses, contracting with vendors & customers, and dealing with various compliance issues that may arise. On the back end when things go south, Andrew counsels and navigates businesses through complex commercial disputes and aggressively represents them in negotiations, mediation, arbitration, and in litigation so that businesses can legally move on and get back to business. Andrew’s ability to identify legal issues and approaches to resolve business-related issues is a strength that I have learned from and professionally relied upon in approaching the business matters and cases that I handle. I regularly refer business to Andrew knowing that he will diligently represent his business clients and their best interests.
Relationship: worked together on matter

- Frank N. Genco, Florida Bar No. 440086

Attorney Mongelluzzi and his team provided excellent and quality service. I always felt that my needs were met and that the firm was invested in me and my case. The quality services I received at Mongelluzzi’s firm were remarkable. From the initial meeting they were responsive to my calls, questions and concerns. All issues were handled professionally and timely, easily accessible, got back to me quickly, aggressive and got me the results that I wanted. Attorney Mongelluzzi and his staff all gave my case their personal attention and provided the quality of work that anyone would want when hiring an attorney.

- Client

Andrew is very thorough defining the outcome expectations. In my case, it was setting up a new corporate entity. He advised me on the most beneficial option and he then executed on that path. Andrew is a very pleasant person to work with. He is determined, skilled and committed to his client’s success.

- Gil Pinney

Andrew helped me through a difficult situation with American Express and we won the case. A great job by Andrew! He also helped me with T&C’s in my company. I would recommend Andrew highly as an attorney.

- John Sams

As a business owner for 12 years I have seen my fair share of ups and downs. Some of the downs would include landlord/tenant disputes and creditors that may have not been fulfilled to agreement. Andrew has met both of these situations for me in a timely, positive, and affordable manner.

- Rich Mattes

It was very nice to have a lawyer who not only is fierce in negotiations but has been successful in business. This is a lethal combination. I was glad he was on my side.

- Nigel Castanheiro

Andrew helped me with a contract litigation case. The lawyers battled it out for over a year and we finally got a reasonable settlement offer. Then the other side tried to back out. Andrew figured out how to force the other side to honor the deal and really knows his way around the court system. Definitely feel comfortable using him again.

- John Ellis

EMAIL US

  • *Contacting Clearwater Business Law or any individual at the firm through this form does not establish an attorney-client relationship. Any time-sensitive or confidential information pertaining to your case should NOT be sent through this form. Thank you.
  • This field is for validation purposes and should be left unchanged.