A fairly common event, but the partner who has overdrawn wants an extra share of profits because he thinks he has brought in additional income, and deserves it. The other partners disagree, and as so frequently happens, the claim for more money unravels a host of other gripes. The other dispute I mentioned involves the ownership of the building, and who owns how much.
Both of these issues could have been avoided with careful documentation, but in our busy lives, these things get left, only to resurface later. A simple statement signed by all parties and witnessed is an effective way of evidencing an agreement
I bet you never thought that being an accountant carried risks to my personal safety, but in Italy, Guiseppe Spinelli, the personal accountant to former prime minister Silvio Berlusconi was held hostage for 11 hours by a gang trying to extort $28m. It’s a wild world out there!