[McLovin]

But, the bottom line is, if some kind of partnership (or other entity) has been legally formed, in which you are a 20% partner/owner, yes, there are legal remedies wherein you can force a dissolution and payout to you (to the extent the business has any value, 20% of a non-profitable business isn't worth anything).

One issue to figure out, initially, under your state law is whether you can recover attys fees if you prevail in such a dissolution action (and whether the guy has the ability to pay them, which sounds highly doubtful).

Another issue is whether it's worth the time and money to pursue him. You would def. need a lawyer to file this suit. That is going to cost thousands. Ultimately your scenario is you've spent a lot of money to become the 20% owner of a business that isn't profitable, or may not even exist at the time you get the case resolved.

Another issue to be careful for is "be careful for what you wish for." Generally, partners or equity holders are all liable for the debts of the enterprise.