Jessica Smith looks at a case in which the court’s approach to the projected performance of a company was key in determining the outcome The valuation of the husband’s interest in the company was the most contested issue and much turned on whether the valuation should be uplifted in anticipation of potential ‘super-receipts’ by the …
Continue reading "Business assets: What the future holds"
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Wills & Trusts Law Reports | Spring 2019 #174A company was incorporated by the husband and a friend in 1978 as equal shareholders. The husband and wife started living together in 1986, and married in 1989. At this point, the husband acquired 99% of the shares and the wife 1%. They separated in 2015.
On a wife’s application for a financial remedy order, the judge found that the capital assets were £182m in properties and pension funds, and 100% of the shares in a private company, which he valued at £221m before tax and costs of sale. He found that 80% of the company’s value was marital property, by applying a straight-line ap...
Jemma Pollock reviews the treatment of ‘copper-bottomed’ assets when compared to assets with a higher risk and less certain value in a case involving a private company ‘The impact of the uncertainty will of course be felt more in cases where resources outside of a family business are lower and where achieving a balance is …
Continue reading "Financial provision: Sharing the risk"
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Rachel Nicholl examines the courts’ approach to business assets and the different orders that may be made to deal with such assets ‘While the court must consider the value of all the assets in the case in order to properly exercise its discretion, given the expenses involved in instructing an expert, this is something that …
Continue reading "Business assets: Open or shut?"
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Wills & Trusts Law Reports | Spring 2018 #171When the parties met in July 2000, they had both been previously married. In the husband’s case, a difficult divorce caused him to set his face against remarriage. He had three sons who spent significant periods of time with their father in a substantial property near Reading (Property G) which had a value of £3.35m. He (together with his brother) had a successful business in international travel and tourism, owning 51% of the shares in the company valued at £30m. The wife, who had no children, had two rented properties with a combined equity of £245,615. By the time she moved into Prope...
Rebecca Stone reviews the case law relating to family businesses and the differing approaches taken by the courts to such assets ‘In F v F (clean break: balance of fairness) [2003] the judge accepted that where some of the assets are illiquid it may not be possible to achieve either the aim of equality or …
Continue reading "Family Businesses: The golden goose"
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