This is a critical step when it comes to seeking redress for the money that has been taken.
It will usually help your legal position if you can demonstrate that you loan data have had a conversation with the partner. Making them aware of their obligations can avoid legal action. And, having a record of formally asking them to pay the money back into the business is an important step if you end up taking legal action.
Make sure you back up any conversation with a written record of the discussion.
You should also send the partner a written demand that they repay the money taken from the business within a specific time frame.
It can be a very challenging time when you discover that there has been a breach of trust within your business. However, it is essential that you follow protocols for requesting the money back and talk to a legal professional if it becomes clear that the situation is not going to be resolved between yourselves.
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