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BiPolar Brother and Business Partner

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Bipolar Disorder
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Posted 9/19/2012 8:40 PM (GMT 0)
This is my first time to the board.  I have read your stories, here is mine.

My two brothers and I started a business together over 10 years ago.  One of my brothers has been diagnosed by two different psychiatrists with BiPolar 2.  A year ago he put our entire business in jeapordy spending money on bad decisions and business ideas, and then crashed into depression right at the peak.  Luckily, myself and my other brother cleaned up his mess while he took meds and got better ... but for 9 months after his mania episode he simply lay in bed refusing to get out.  Well, after a few months of bringing him back into the business, his mania has erupted again.

Now he is the greatest thing ever, sending 50 emails a day and basically on his way to another financial disaster, surely to bring us all down again.  We don't want to leave the business, but we cannot work with him anymore.  I havent mentioned anything non-business yet, except that it is obviously hurting us personally and our parents.  But our main concern right now is this business and the future.  It's been almost 3 months and it's the same problems day after day.  He's simply irrational and unreasonable to co-exist with in this state.

We can't walk away, but we can't move forward.  Instead, we are stuck in this madness.  What would you do in this situation?

Thanks,

Hubie

 

Posted 9/19/2012 11:59 PM (GMT 0)
Protect yourself financially first. Hopefully you can encourage him to seek treatment, but that will be his responsibililty.
Posted 9/20/2012 1:37 AM (GMT 0)
exactly how do i protect myself financially from him?
Posted 9/20/2012 5:41 PM (GMT 0)
Are you legal business partners? If so, one of you will have to buy the other out.
Posted 9/20/2012 5:55 PM (GMT 0)
I wish it were that easy, but in grandiose he thinks the business is worth more than it is, so he wont agree to get bought out. But the gradiose tells him he deserves everything and we deserve nothing, so he wont offer anything reasonable to buy us out.

It's a merry go round, and we're struggling to find an answer of how to protect ourselves.
Posted 10/13/2012 6:49 PM (GMT 0)
It's been almost a month, nothing has changed. You can't "Buy out" a bipolar business partner who thinks they are the greatest businessman in the world. No amount of money is enough. On the flipside, they wont buy you out, because you are worthless to them, they can take on the world. Why would a manic person pay you anything to leave?

I have no idea how to protect myself financially. I have no idea how to get out, without giving up everything and being bullied.

If anyone has any suggestions or experience with this, I'm listening.
Posted 10/14/2012 2:01 AM (GMT 0)
Could he be involuntarily commited? Can you put a hold on bank accounts?
Posted 10/14/2012 4:45 PM (GMT 0)
I dont see how we can involuntarily commit him, or freeze his bank accounts.  He is free to do what he wants from everything I understand.  He isn't much of a danger to himself or society.  Yes he was suicidal over a year ago, nothing since then.  As far as I know we dont have grounds to control his life.  Psychiatrists have advised that he will have to crash into depression on his own if he fails to take his meds.    I'm just looking for a way out.  If I'm wrong, please tell me.

 

Posted 10/15/2012 1:27 AM (GMT 0)
I don't think you're wrong, but I don't know enough about finance / business law to suggest anything as far as financial protection for you.

Is a family intervention an option? Is he medicated? Seeing a psychiatrist?
Posted 10/18/2012 1:00 AM (GMT 0)
Can we assume that the 3 of you share a business bank account? If he was able to spend the companies money, then why cant you and your brother take the funds in the account and open a new account that he is not privy to. I would hire a lawyer if need be to take him to court and prove what he has done to the company in the past. Maybe it would work if a judge made a rule that every one of his spending spree ideas has to have written approval by you and your brother before he could spend a dime. I am bipolar. I have had only 2 serious manic episode in my adult life, but that was all it took to ruin my life, that being my 20 year marriage and putting my 14 year son go thru the hell of it all. After years of medication and therapy, I still cant lose the guilt. Its been 20 years since then. Your brother needs help. Possibly an intervention with family and friends. If this company that you 3 brothers have that is the sole income for you all, then its well worth taking him to court if need be. Its sad, but once he is over the episode and can think straight, he will hopefully understand why you had to do what ever it took to save the company, even saving it for him too.......Good luck to you.............Cathy
Posted 10/22/2012 2:48 PM (GMT 0)
Lawyer up. ASAP. Your state's laws will vary, so the lawyer will be the go to guy.
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