We helped a husband in his divorce. He and his wife were equal shareholders and directors of a family limited company which provided them both with their income. They also owned two properties.
There was no shareholders’ agreement which caused issues with their business decision making roles. The husband agreed to leave the family home subject to having the rent paid for a property nearby, taken from the business income.
A decision also had to be made whether the family business should be sold. A number of experts had to be involved, including a forensic accountant and a chartered surveyor, and a decision was finally made to sell the business.