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My business partner is getting divorced, and their spouse is trying to get the company involved in proceedings.

When an entrepreneur gets divorced, their spouse can sometimes try to get their company joined to proceedings. In doing so, they might be trying to extract cash from the business or dispute how it is owned and held. If you find yourself in this situation as a business partner, you may well want to make representations to the court.

There are also steps that you can consider taking to protect a business in the event of an owners divorce. These can include amending your shareholders agreement or partnership agreement to outline, for example, procedures for company valuations and selling or transferring shares to give the company or other shareholders pre-emption rights.

Vardags, with our corporate understanding and family law expertise, are well placed to advise you. Our in-house forensic accountancy team can help you produce realistic arguments about the value, ownership, and liquidity of the business, whilst understanding the aims and procedure of the family courts.

If your business is joined to family proceedings, we can liaise with you and corporate and family counsel to help you defend your interests. We know that you want to protect the future of your business – preserving liquid cash for future investment, for example – from being affected by an owners family proceedings.

If youre considering or going through a divorce and you are worried about the impact on your business, click below for a free initial consultation with one of our expert divorce solicitors.

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