We are currently involved in a business partnership dispute. My partner is refusing to disclose the company’s accounts, financial statements, and bank records, yet he is insisting on moving the matter to arbitration. I am hesitant because an arbitrator cannot make a fair decision without seeing the actual books of accounts.
If the arbitrator makes an estimated assessment, the valuation may be too low—which I cannot accept—or too high—which my business partner will not agree to.
I need a second opinion: Is arbitration the right approach in a financial dispute where accounts are being withheld, or should I approach the court to compel the disclosure of books of accounts and financial documents?
I want clarity on the best legal remedy for a business dispute involving lack of transparency, non-disclosure of accounts, and disagreements over financial evaluation.