Ask a Law Question, Get an Answer ASAP!
Yes there was a court division of financial assets.
The UK company was valued at about £500,000, the India company was valued at NIL as it derived its business from the UK company which had been stopped.
The total assets were about £2m, so we got about £1m each.
The Court did not rule on how the two companies should conduct themselves in future other than my giving an undertaking that I will not claim to be the CEO of the UK company anymore.
Since I had set up both the companies I know lot of the clients personally and have their contact details with me in a personal capacity too, in addition to the data I have on them in the India company.
Hope this helps.
As the UK company did the marketing originally they collected and entered the data in their server. A lot of the work for the UK company was done by the India company, so the latter shared the data. Again the operations were in India and in getting feedback from clients contact details were sometimes collected independently by the India company, as part of the feedback.
The two companies did not have any formal agreement regarding data sharing etc. as the owners were common.
Harji (we've met on this forum before)
The data could not be "modified" being client details.
It will be clearer if I tell you the data was on the UK company server but the Indian company was allowed to access it, with no formal conditions put on its usage. Common sense would imply the UK company would not expect the data to be used against its own interests, but had not imposed any such covenants as it was an informal family set up - which is no more the case since my divorce.
The Indian company was in a position to collect some of that data directly from the clients as part of feedback whilst the clients were travelling.
It is up to me to use the data as my new UK company or as my existing India company, whatever works, if it does. I appreciate technically the data belongs to the UK company, as common sense would dictate. What about the clients who personally know me and whose contact details I have anyway. Will I be hanged if I say hello to them?
Allow me to bring in some fresh material. In our settlement the UK company was valued solely on its assets with the goodwill value being shown as zero - this is because my wife cleverly showed huge losses for 3 years leading up to the settlement, and the court valuer felt the financials were too weak to ascribe any value other than based on asset vaue - essentially a freehold building. Now if my wife claims the data bank has any value, then that gives me the right to reopen the case and claim a portion of that value. In my estimation I would pay for the UK company at least £2.5m which was valued at a measly £500K by the court valuer, so I have been shortchanged by a half share worth £1m. Can I take this stand?
Thank you for clarifying that I can use the data I have personally of clients known to me.
What about data with my India company, which is a duplication of some of the data with the UK company, can I use that to contact those clients, even if some of them do not personally know me or of me?
There was no non compete restriction.
I do not wish to reopen the divorce proceedings, but wish to know if I can use that as a threat if my ex continues to bother me with legal notices.