divorcing..rights to access Accounts
Discussion
Colleague is getting divorced. Wife's solicitor has asked for latest Company ( of which he is a Director) accounts and ongoing management accounts despite the fact that he does not take a salary or dividends...A)does the lawyer have a right to see company Accounts B)can he demand management accounts from us? Many thanks for your help!
yes and no. They are trying it on to get a better picture of your colleagues "worth" to see how much they can rinse him for.
If they want the accounts tell them to f
k off and pay for the publicly available ones from companies house.
They have no right to see the management accounts.
No idea if she will be entitled to a chunk of the business, It "should" just be a portion of his income from the business (if anything)
Been through something similar with the CSA myself.
If they want the accounts tell them to f
k off and pay for the publicly available ones from companies house.They have no right to see the management accounts.
No idea if she will be entitled to a chunk of the business, It "should" just be a portion of his income from the business (if anything)
Been through something similar with the CSA myself.
Are the accounts available at companies house? I don't see any reason that a private company should make its accounts available.
Management accounts are internal documents - Is there a court order?
I'd take the view that I see no obligation to provide any info to anyone outside of the legal requirements.
If the director choses to pass the info he has on then thats his concern - keep the company out of it unless a court orders the relase of info.
imho, ianal, ianaa, ymmv
Management accounts are internal documents - Is there a court order?
I'd take the view that I see no obligation to provide any info to anyone outside of the legal requirements.
If the director choses to pass the info he has on then thats his concern - keep the company out of it unless a court orders the relase of info.
imho, ianal, ianaa, ymmv
Mattlan said:
Colleague is getting divorced. Wife's solicitor has asked for latest Company ( of which he is a Director) accounts and ongoing management accounts despite the fact that he does not take a salary or dividends...A)does the lawyer have a right to see company Accounts B)can he demand management accounts from us? Many thanks for your help!
They don't have to give them I suppose, but, if it's a Limited Company, some relevant information is available off the Companies House website anyway.If it goes to court, he will have to fill in the E Form anyway, and that would involve declaring his company 'worth' anyway.
He should seek legal advice immediately, or, alternatively just offer her a 'fair' settlement in the first place and save costs on both sides.
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