Divorce settlement

Discussion in 'Finance, Property, Law' started by Tytus_Barnowl, Feb 4, 2013.

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  1. Hello great and good people.

    Barnowl stepson just received his decree nisi. Divorce of wife of 8 years.

    Assets: Pre marital/post marital flat, has lived in rented accomm for 3 years now with family because of better schooling area for 2 daughters 4 & 7. Flat open market value 160k

    Has own business, wife never shown interest, dividends to shareholders 60k per annum assets prob around 25k.

    Question, If she decides to get shitty at this late stage what is she entitled to and what if anything he can sell to interested partners for £50 to stop the leech?

    I'm sure its been done to death before but I just want to know in case I get asked to take ownership of something.
  2. Legal advice from a lawyer, not a bloke on t'interweb.

    Judges can get arsey about people hiding assets.
  3. I'll buy your business for £50.00

    Seems like a good deal if your income figures stack up.

    Talk to me.
  4. I know he's gone for the legal, he is pretty astute. Al I asked was that we want to protect his interests and how legally can do this.
  5. Sole director?
  6. Believe so.
  7. That'll have to change.

    makes it a bit more sticky for the judge to force the business to do anything when there are other directors involved.

    A friend of mine who basically created what James Dyson made a fortune from and was doing the same thing in industrial applications. He and his wife split, she and he were the 2 directors and it got messy. Had to bring his dad in to counter her votes in the business to effectively shove her aside but not out. She went on a destructive spree and all but killed the business off. my mate had to re-start the company virtually from scrap and it was a complete ballache. His ex got 33% of ****-all due to her own doing and now he is back on his feet.

    Ringfence the business by jumping on board as a director and make sure he has assets to give up in lieu of a settlement against the business. Make sure his brief gets specialist advice if his brief is unsure. His bank may help out too.
  8. I should imagine that he's already getting stiffed by his brief, so let the bugger earn his keep. Don't be tempted to join in. You will tread on toes, give conflicting advice, confuse things and the brief will charge more to disentangle things.
  9. No intention of joining in, I've got a business as well but myself and wife of the Barnowl are going nowhere. I know its possible to sell 49 shares out of 100, to say his brother. If that will keep the leech away from his femoral it might be the only way. Can he also do this with a property?
  10. The best and cheapest advice is to be fair and give what is due (under law - not what you think is fair). Trying to be devious will make for an acrimonious and expensive partition of assets. Go for the legal advice and mediation if appropriate and necessary. Unless of course you want years of arguing and sky high legal bills.
    • Like Like x 3
  11. I am sure his brief will tell him (if he asks for advice before putting any plan into action) that any disposition made now will be liable to review by the court, which has the power to make an order setting aside any such disposition. If such an order were made your stepson would bear the costs. The court would thereafter look upon him as dishonest and he'd be on the receiving and of any adverse inferences to be drawn from then on within proceedings. Section 37 of the Matrimonial Causes Act 1973.

    Likewise if his Mrs gets wind that he's thinking of making a disposition she can apply (without notice to him) for a freezing order - which has the potential to cause him significant trouble. Same section of MCA 1973.

    The details you gave in the original post were so sketchy that you have no chance of a sensible answer - even assuming that any sensible person with the requisite knowledge is on hand to supply the answer. But of course you have no idea whether any answer is posted by the Lord Chief Justice or Terry Fuckwit (albeit that those two individuals may be one and the same person - you know what I mean!)

    So the only answer is for him to get sensible legal advice, and for you not to suggest/agree to anything dodgy.
    • Like Like x 2
  12. Mrs Barnowl and I have our own company interests to protect so no liabilities on us. I thought it might boil down to this, what a ******* idiot he turned up to be. This shows that you can make all the money in the world but if you fail to protect it then you can lose it just as quickly. I think he will survive this, I just hope his Polish girlfriend is worth it. I also hope he has told her that he has 2 more daughters from previous affairs. These things do have a habit of re-visiting.
  13. Your post brings nothing but shame upon you with the same lack of sympathy. Totally pointless and vindictive. So ye sow so shall ye reap. Maybe a bit too biblical but seems to fit. Think on.
    • Like Like x 1