Joint Venture Agreement
How to split debt in a joint venture?
I am currently in a joint venture with another company to pursue a business opportunity. As part of our venture, we have incurred debt that we need to repay. However, I am unsure of how to fairly split the debt between the two companies, especially if one company has contributed more resources or expertise to the venture than the other. Therefore, I would like to seek the advice of a lawyer to better understand the legal and financial considerations involved in splitting debt in a joint venture.
1 Attorney answer
This can be done by agreement of the parties. Typically it can be done in the same way profits are split or depending on how much the parties are contributing to the JV. If you need assistance with the JV agreement, I can help. You can find me on the contracts counsel website to engage my services. All the best Donya Gordon