Forged signiture

[phill911]

After 20 years + I found out that my business partner had forged my signiture and opened a bank account , took out a loan and 25k overdraft .Also he has not benn paying the wholesalers and the employers national insurance and paye tax. Where does this leave me as my business partner has gone bankrupt ?

[Pigletion]

You need to get proper legal advice. You need to get hold of the forged documents and prove (not sure how) that it is not your signature. You'd also probably have to start legal proceedings against them and dissociate yourself financially from them. You don't want your credit rating and chances of future credit affected by this.

All this needs to be formal and on record, which is probably going to require a lawyer.

[Hymie]

Absolutely agree with Pigletion � you need to seek proper legal advice � and fast.

HMRC don�t like not being paid � even if someone else ran off with the money, they will come after you.
And just in case you didn�t know, they make the mafia look like some kindergarten outfit.

[chas2008]

taking the forgery bit out of the equation, if he has not been paying suppliers,tax, paye,vat etc. you are still liable for the FULL amount, all partners are equaly liable for all the debts, regardless of who should of done what,and as hymie says HMRC dont take no c**p they will take the easiest option to recover there money and as the other guy has gone bankrupt that leaves you !! They are not interested in excuses or partnership squabbles.
Been there myself , cost me �1,000s ,partnerships are a minefield unless set up properly at the beginning, unfortunately most are formed between so called mates who trust each other...