u/newgameover

Hi! I’m planning to start a shoe cleaning business. Any advice would be greatly appreciated. Thank you 🥹🙏🏻

I am a 50/50 co-owner of a business in the Philippines. Due to ongoing conflicts, my business partner and I mutually agreed to close the business. However, we still have ongoing transactions and obligations that need to be completed before we can officially wind up the business.

However, after we made that decision, he changed the passwords and access to all of our business accounts without my knowledge or consent and refuses to give me access. As an equal owner, I can no longer monitor the business, review transactions, or verify what is happening with our company assets.

Now I have been completely locked out of our business accounts despite owning 50% of the company. Is this legal? What rights do I have as a partner, and what steps should I take to protect myself and the company’s assets?

I am a 50/50 co-owner of a business in the Philippines. Due to ongoing conflicts, my business partner and I mutually agreed to close the business. However, we still have ongoing transactions and obligations that need to be completed before we can officially wind up the business.

However, after we made that decision, he changed the passwords and access to all of our business accounts without my knowledge or consent and refuses to give me access. As an equal owner, I can no longer monitor the business, review transactions, or verify what is happening with our company assets.

Now I have been completely locked out of our business accounts despite owning 50% of the company. Is this legal? What rights do I have as a partner, and what steps should I take to protect myself and the company’s assets?