Business Interests Secured in Divorce Case
29 May 2015
Senior Family Law Solicitor Fiona Wood helped secure the value of company assets owned by her divorce client.
Slater and Gordon Solicitor: Fiona Wood is the Practice Group Leader for Family Law at Slater and Gordon Lawyers UK.
Fiona acted for the husband on the financial consequences of his divorce.
In addition to the house and other assets owned by Fiona’s client and his wife, Fiona’s client held shares in several companies, both directly and also via family trusts.
How Fiona helped:
There were discrepancies over the value of the company assets so Fiona worked to provide a full picture of her client’s business assets.
Fiona instructed various experts, including an accountant and surveyors, to provide valuations of the companies in which Fiona’s client had an interest.
Fiona obtained expert commentary from the accountant on the issue of liquidity regarding Fiona’s client’s company interests, as her client did not think he could withdraw much money from the companies without adversely impacting them.
Once the experts had prepared their reports it became clear that the company assets were worth close to what Fiona’s client had originally suggested. The amount of money that could be taken out of the companies was found to be limited and the total assets were approximately £2 million.
Decision: Fiona negotiated a settlement that her client was happy with and which allowed him to keep his company interests intact.
Related practice area:
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Friday 29th May 2015