The Auto Parts Debacle: Surviving a bad partnership

November 15th 2017

Our client, Mr. Thomas Stone, imported and distributed auto parts in the US. He owned and operated this business for over 15 years and was ready to expand. Mr. Stone entered into partnership with a Chinese supplier, took out a business loan and expanded operations.

Unfortunately, Stone’s suppliers cheated him, resulting in significant business debts. He defaulted on his loan and as expected, the lender came after the assets of the business. Mr. Stone came to me in desperation. His life’s work was on the line.

View Memo