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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33955
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I am in the process of getting divorced my husband is trying

Resolved Question:

I am in the process of getting divorced my husband is trying to argue that I am not entitled to half the shares in one of our companies although he agrees an equal share in the other two. He is claiming that the status of the company has changed from a panel management company to a software company. However, the company still provides HR and accounting support to one of our other companies. We are going through financial mediation and the mediator has suggested that he could set up another company but that would still mean moving the intellectual property rights from one company to another to avoid giving me my 25% shareholding which I do not think he can do.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstHow long have you lived together and what is the value of the business
Customer: replied 1 year ago.
Hi we have lived together for 18 years. He is claiming that the company has no value because he has set up another company that will now manage the panel management side of the business. Leaving the current company only looking after the software. But this company will also still house the HR and accounting function.
Expert:  Clare replied 1 year ago.
Did the mediator not point out that whether the assets are in joint names or sole names you have a claim on 50% of them in any event using Family Law which makes the argument a foolish one?
Customer: replied 1 year ago.
Hi,
I totally agree with you. What I was looking for is something in writing to present to the mediator at my next session highliting this fact. My husband is an accountant so he thinks he can blind me with figures and the movement of assets, funding etc. All I really want is clarity in writing state that irrespective of what my husband wants the law states that I am entitled to half and why should one company be excluded from the law just because he wants it that way. The mediator is also incorrect in saying that he could set up another company to take on the business as this would be classed as outside the matrimonial relationship because we separated March 2015 because this would also be transferring the intellectual property rights from one company to another to get out of splitting his shareholding with me.
Expert:  Clare replied 1 year ago.
What is the background of the Mediator - this seems very oddThe simple fact is that even if he changes the company structure the fact is that these assets in fact predate the separation and will be taken into account by the Court no matter who owns themYou can read more herehttp://www.cotswoldfamilylaw.co.uk/blog/when-is-a-matrimonial-asset-not-a-matrimonial-asset/I hope that this is of assistance - please ask if you need further detailsClare
Clare, Solicitor
Category: Law
Satisfied Customers: 33955
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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