UK Family Law
UK Family Law Questions Answered by Verified Experts
Thanks for letting me know. My partner (who is no longer employed) has an appeal hearing re maintenance. The claimant had her claim rejected by the CSA. Her grounds for appeal are that she doesnt believe that my partner has no income because he is a "wealthy man". Whilst my partner is relatively asset rich, he has no income from any other source. I basically support him. The claimant has provided no evidence to back up her claim. My partner basically needs to know how to prepare for the tribunal, and what documents he ought to provide. He'd also like an indication as to the potential outcome. Cheers
A property (worth circa £1m - we live in it) and loan notes worth circe £1m (not income bearing). Cheers
No - they can't be sold - only realised
Yes - upon an event like a company sale/ flotation. However, they cannot be used as security. My partner intends to repay debts and extend the property once he has the funds. He cannot have a release of funds or a loan against them until the company is sold/ floated - and he has no control over that
No - he hasn't. They are impossible to value - they might never be realised - they could be valueless. Until the 'event', their actual value cannot be determined.
He purchased them for £75,000 in 2005 - it was part of a deal when his old company (in which he was MD) was floated. It's deferred consideration on a share sale - hence the risk.