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Old 29th May 2015, 11:37 AM   #1 (permalink)
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Worst business cooperation with LES PATI*SERIE from tpy :(

I used to have a stable job in the bank out of passion in F&B, I set up a cafe with my ex classmate and his existing business partner. The initial plan is 60% shares goes to them and 40% goes to me. However, I am the only one who fork out all the money and effort. As they have to manage their existing cafe (LES PATI☆SERIE). So it is impossible for them to be physically manage both side. Therefore I am the only person that manage the cafe operation, supporting the funding. So what make them 60% share holder whereby they didn't even fork out 60% of the effort and the shop set up cost. (Can't claim that they have zero effort, they did sell their shop pastries to me and share their suppliers contact.)

After a month of struggle, out of respecting that they are still my business partner. So after discussing with them, they ask me to seek for buyers. So I found a buyer who willing to pay a certain amount to take over the whole shop. But however, the story had been continuously changing from their side. (Their side referring to LES PATI☆SERIE)

At first, they get me to find a buyer. I had found and willing to spilt what I get from the buyer with them.

After a while, they changed their mind to keep the shop as they mentioned they had found a new partner to venture their new business plan with their new partner.

After a while, partner K ask me to talk to partner J instead. Then partner J push back the negotiation to partner K. Are they trying to buy time? They had been debating that the shop belongs to them, whereby I am the only one who paid for everything.

However from my point of view, every expenses came from me so i believe I am able to play a part in making decisions what is the cafe new directions. But however I didn't realise I am just a stepping stone for them. (As they claim that the shop lease is under their name.)

So i had did renovation, purchase all the cafe equipment. Now they are paying a little amount and demanding me to leave? The rates I am asking for is $30,000 as this is what I could fetch from the buyers. Since you want the shop, pay me a reasonable amount from the market rate instead of pushing it down to $7,500.

So I had been pushing them for an exact handover date so I could clear my stuff and collect my payment from them. They had drag from 1st may 2015 till now, cleared my personal stuff without my permission from the cafe, as they claim that their premises are occupied by me. And they had not charged me rent for occupying it. Since you haven't clear my payment yet, how could you clear my personal stuff without permission and be such a bully, a bad business man without ethics?

I truly hope I could get back my money as soon as possible. Please don't avoided my messages and reply to me. I sincerely wish them all the best.

I will post the screen shot as evidence to support this real life incident.

FYI Maison De The had closed down, please kindly support the next tenant. Thanks reader, please help me share my story.

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Old 29th May 2015, 11:44 AM   #2 (permalink)
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Re: Worst business cooperation with LES PATI*SERIE from tpy :(

Sorry to hear that bro. That's the school of hard knocks and business is like that.

You might want to go for arbitration since the other party is obviously not interested in negotiating a fare deal for you. As 40% owner, you have the right to demand fair market price. But fair is also largely dependent on what the shop can now fetch if sold in the open market. You can demand that the shop be sold in open market and then you have the right to claim 40% of it.

Secondly, if you paid all the upfront capital, arbitration might also work in your favor since you are the one who forked out the initial capital. You might get a better deal and arbitration might allow you to claim back all your expenses first before distribution to shareholders.

Finally, i think you need to start taking concrete steps to get your money back instead of complaining and whining around. You need to show them that you mean business and they need to take you seriously. You should also go talk to a lawyer to see what they can recommend. I think some lawyers will be willing to take a cut of whatever they manage to fight for you.

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