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With legal costs of £2.4 million at the time of trial, Mr and Mrs F each wanted to vary the terms of a shareholders’ agreement which effectively made it impossible for their company to continue in its restricted form, following divorce.
United KingdomFamily and Matrimonial
With legal costs of £2.4 million at the time of trial, Mr
and Mrs F each wanted to vary the terms of a shareholders'
agreement which effectively made it impossible for their company to
continue in its restricted form, following divorce. The judge did
not just vary the agreement, she rescinded it so the couple could
have a clean break settlement by dividing all the assets. The
husband had made almost all of the money pre-marriage (it was his
3rd marriage, he was 81 at the time of the court
hearing) and the wife received 36% of the assets. This case
emphasises the need for divorcing clients to use law firms with
family law, private client, company and commercial expertise all
under the same roof.
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