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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11417
Experience:  30 years as a practising solicitor.
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I would like to find out a bit more about Scottish divorce

Resolved Question:

Hi
I would like to find out a bit more about Scottish divorce law, in particular, the division of assets.
My Brother-in-Law is a joint Director with his wife who is separated from. After they separated, his father formed a new company which my Brother-in-Law performs jobs for. The company that he is a director for is a plumbing franchise and the company his father has set up looks after piping for the oil and gas industry.
The solicitors letter we received is implying that there is a conflict of interest as part his directorship to the plumbing company but have not provided any evidence to support such claims. They are also implying that he is in breach of the franchise agreement.
What they want is for my Brother-in-Law to:
1. Disclose the true beneficial interest of the company registered in his fathers name
2. Provide full the full management accounts for the company registered in his father name.
The questions we have are:
1. Does he need to provide the documents requested above?
2. I know this is going to be a long process but could you advise us as to where to start with all of this?
Thank you
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.

1. From your narrative he doesn't need to provide this as the matrimonial asset is the company that he and his wife are directors of. Unless there is any matrimonial connection with the fathers company it would appear not to be relevant. 2 he should see a solicitor. The starting point is to determine the value of the matrimonial assets at the date of separation. Happy to discuss further. I hope that helps. Please leave a positive rating so that I am credited for my time.

Customer: replied 1 year ago.
HiThank you for getting back to me. I've just been informed that his wife was aware of this new business and helped to set it up before the breakdown of the marriage, but all the documentation was put into his name. The business only really started trading after they had separated. Can you tell me if this changes anything?Also, he is considering either offering her a lumpsum in excess of what the new business is worth or signing over 100% of the business that they own together to her. Would you be able to tell us which option he should be should consider first?Thank you
Stefanie
Expert:  JGM replied 1 year ago.

On the face of it the value for matrimonial purposes would be the value at the separation date if it's only in one name.

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