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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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I am currently in a divorce, my ex and I during the course

Customer Question

I am currently in a divorce, my ex and I during the course of our marriage held a small private company 50/50. During the marriage my ex husband had the opportunity to buy into the company he works for (also a private company) he first bought privately, then came to me to ask if we could finance a large purchase in the company we hold 50/50 - we did do the transaction, but after having done that my ex husband issued a resolution that he held all the voting rights regarding the investment we made together, he then also signed it. Now that we are in a divorce, even though I hold shares he has refused any and all access to the investment financial information, minute books etc - I understand under family law that that may be true, but as a minority shareholder am I not entitled to reasonable access to financial information pertaining to the investment made. I have seen financial statements - 2 years after the fact.
JA: The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: Divorce yes - corporate no
JA: Is there anything else the Lawyer should be aware of?
Customer: No I don't believe so, other than there was another shareholder that threatened legal action as a minority and they turned around and purchased his shares thru the corporation and didn't tell him he had a PUC issue - so I'm pretty sure that once he gets the T5 for the massive dividend income and subsequent tax bill - he'll probably launch another law suit, even though the agreement statement he had no re-course. I'm pretty sure that he'd have a case if he wasn't made aware of the tax liability
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.
Submitted: 9 months ago.
Category: Canada Law
Expert:  Legal Ease replied 9 months ago.

Are you saying that even though you are divorced you still hold shares in the company?

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