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companies as an asset for consideration

  • ALEXANDER
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22 Jul 07 #1505 by ALEXANDER
Topic started by ALEXANDER
i was involved with my husbands company in nunerous guises over the past 20 years..working, advising, director since 1996...the company is private limited.last year my husband pressurised me to drop my shareholding from 20 to 10%...if the company were ever sold on current value it could realise 1.5+m...my husband says i am not entitled to anything re the company except my 10% should it ever be sold, that it is currently worth didly squat and if i pursue him on the company in consideration of any future development he will close it down...any success is down to him and his hard work

could someone give a point of view on this?

  • CollaborativeFamilyLaw
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22 Jul 07 #1507 by CollaborativeFamilyLaw
Reply from CollaborativeFamilyLaw
He is wrong, whilst you are a minority shareholder any family solicitor will advise you that the buisness assets form part and parcel of the "family pot" . Since the case of White (Oct 2000) there is a presumption that you are entitled to half of this pot as a starting point.

You need some robust help. In view of the amounts involved, I hope that you can afford to invest in advice from a top tier firm, as I'm sure that your husband will.

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