Hi, I'm currently being taken through a financial court order by my STBXH. We have exchanged Form E's last week (he has deliberately missed some information out, even though is say's on the form it 'is attached'!). Anyway he earns more than me, but I do own a share in my family business which he is trying to get a share of.
The business was set up 40 years ago by my father, and when he died suddenly in 2011 I inherited 1/3 and my 2 brothers each own 1/3. The company was set up so only family members can own shares, so they can't be sold to anyone & he certainly can't own any shares. My argument would be that as the shares can't be sold there is no value to them, is there any use in saying this to the court?
I work part time in the business and receive a wage and dividend payment as part of my salary. The business is profitable at the moment but is a small business with 8 employees.
If the business is valued officially (our accountant has given an approximate value as per the formula that might be used) I would have no way of raising any capital to pay a share of it.
He has also moved 2 hours away so I have to look after our 3 children full time which now means I can't do my job as it involved some travel & I don't have before school childcare that would allow me to do it.
We have other issues regarding house value and payments, but this company share is the only means he would have of trying to get a payment from me, sorry for the long post, trying to keep costs down and self represent where possible so any help much appreciated!