What to do if business partner brings all members to bankruptsy

**Denya54** · 10-03-2008, 02:06 PM

Hello I am one of 4 managing members of real estate company that deals with flipping houses. One business partner took everything on himself and started to act and be like a general manager withought telling and saying about his actions to other managing members of the company. Over 90 days some of the 3 houses have been sitting in hard money lenders and couldn't be refinanced and the managing member that is taking care of all financing , repairs , and talking with banks and appraisals. My main question is how do you go by suing the managing member that brought other 3 members almost to bankruptcy equalling $100,000 in losses. What needs to be done the right way to get the lost money back to the 3 managing members that are in crisis.