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Alex J.
Alex J., Solicitor
Category: Family Law
Satisfied Customers: 3760
Experience:  Solicitors 2 years plus PQE
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I have been company secretary and 50% shareholder on my

Customer Question

I have been company secretary and 50% shareholder on my husbands limited company for 10 years. It's an IT contractor limited company. We separated last year and now going through a divorce. I have always done my duties. Until last year I was a salaried employee of the business but have a feeling he has removed me as an employee but hasn't informed me. In April he ceased paying my salary and dividends and he has now informed his agency and accountant not to accept anything from me so can no longer perform my duties. What rights do I have and what can I do as I rely on this money to support myself and 3 children.
Submitted: 5 months ago.
Category: Family Law
Customer: replied 5 months ago.
Please can you advise when I can expect an answer as I paid for an urgent response and I've received nothing yet
Expert:  Nicola-mod replied 5 months ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 5 months ago.
Hi Nicola,How long do you anticipate it taking?Regards
Caryn
Expert:  Nicola-mod replied 5 months ago.
Hello,
I'm afraid JustAnswer cannot guarantee a time, however most questions are answered in a timely manner.
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Alex J. replied 5 months ago.

Hi , Thank you for your question and welcome. My name is ***** ***** I will assist you. Do you and your husband have the same classes of shares? Kind regards AJ

Customer: replied 5 months ago.
Hi yes we do 50% each
Expert:  Alex J. replied 5 months ago.

Thank you. Has he been paying himself dividends or declaring them? Is the company asset being considered in the separation?

I will prepare a response detailing some options you have as a deadlocked shareholder - this make take me some time. In the mean time I have to go offline so please do not be concerned if you do not hear from me right away, I will respond later today/ tomorrow morning at the latest.

Kind regards AJ

Customer: replied 5 months ago.
Hi AJHe's paying himself dividends and a salary which I had also been receiving until April this year and he decided to stop paying with no notice. Potentially the company assets may be considered but haven't got there yet. Right now I'm in big financial trouble as I don't have enough money to cover my bills.
Expert:  Alex J. replied 5 months ago.

Hi, Thank you. The problem here is there will be no quick fix to force him to pay, the only way to force him to pay is to sue him which could take weeks or months. If he is declaring dividends then you are entitled to them which leaves two scenarios (i) He is keeping the money himself or (ii) the money is still in the company. Either way you could sue either of them for the money. Do you know how much you are owed in dividends? Kind regards AJ