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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 35339
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Customer Question

My exspouse lied about his company's value before divorce; recently sold it for several hundred thousand one year after divorce. Can I still sue to get part of the value?
Submitted: 3 years ago.
Category: Legal
Expert:  Barrister replied 3 years ago.
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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Did you dispute the value at the time of the divorce and property settlement agreement?
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How did he come up with a value for the company?
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Did he have an appraisal done?
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Thanks
Barrister
Customer: replied 3 years ago.


No, he just made an offer to a current contractor that worked for him. No he convinced me that the information was accurate, but won't let me see any financial information.

Customer: replied 3 years ago.


No, he just made an offer to a current person that worked for him. No he convinced me that the information was accurate, but won't let me see any financial information.

Expert:  Barrister replied 3 years ago.
I apologize for the delay. JA is having some technical problems that are causing outages in service.
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If there was no appraisal done when the property settlement was done, then it was essentially a "guesstimate" of what the business was worth. To be very honest with you, you should have insisted to the court that an appraisal be done that would have taken into account the assets or the business, the receivables, any debt and any good will that was part of it..
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Unfortunately, without some hard evidence that he was fraudulent in his initial estimation of the business value, it would be difficult to get a judge to agree to reopen the case because the presumption is that once the property settlement is signed off on by both parties, it is forever binding. With that said, playing the devil's advocate, he could have been accurate and the contractor is simply paying way too much for the business. But my guess is that you are correct in that he understated the value of the business..
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I am sorry the news wasn't better.
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Thanks.

Barrister

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Please remember to rate my service. If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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