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Financial and emotional abuse

6 replies

Monison · 22/04/2019 15:00

My SIL has just come out of an emotionally abusive relationship. Over the past 2 years her ex-partner has manipulated her into selling her house (135k) which he then persuaded her to use to fund a start up business and to fund his lifestyle (rent free, holidays to USA etc). After the money ran out they jointly took on debt (approx 25k) to fund another business which stands to be a profitable enterprise. SIL recently found out that her ex has been cheating on her with a 17 year old. She says that her ex is a pathological liar and prone to gaslighting. At the moment her ex is maintaining that he has legal rights to half of the business despite his only contribution being the joint debt. We are worried he will drain cash from the business and do a runner. Does anyone know if he has a legal claim? And/or is there any possibility that he could be prosecuted? My SIL gave him the money willingly but only as part of the emotionally manipulative relationship. We know she is unlikely to get any money back but we would ideally like her to have sole business rights without having to buy him out. Any advice gratefully received.

OP posts:
ticketsonsalenow · 22/04/2019 15:32

You might be better off asking for this to be moved to Legal

HollowTalk · 22/04/2019 15:34

What is the legal situation? Are they a partnership?

Monison · 22/04/2019 15:47

It's a limited company in both names. He is maintaining that he has 50% shares. However, she has 2 years of paperwork showing a heavy flow of money from her to him - at least a few hundred per week, up to 10K chunks.

OP posts:
HollowTalk · 22/04/2019 16:24

Why doesn't she take money out, then, equivalent to what he's had?

Monison · 22/04/2019 16:41

The new business has only just opened so has not made any money as such yet - initial forecast is promising (good first week sales) but not enough profit to dent the overall debt he owes her. He is refusing to leave - says he is unwilling to sell her his shares as he believes the business will be lucrative. If she buys him out she is effectively buying her own money back anyway. We don't think she can recover the losses but want to make sure he doesn't continue to benefit from a 2 year spending splurge on her account. He doesn't think he has done anything wrong and seems to have conveniently forgotten that all of the risk/capital has been hers.

OP posts:
Monison · 23/04/2019 13:03

Bump

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