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I am currently in a divorce, my ex and I during the course…

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I am currently in...

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.

Lawyer's Assistant: The Lawyer will need to help you with this. Have you consulted a lawyer yet?

Divorce yes - corporate no

Lawyer's Assistant: Is there anything else the Lawyer should be aware of?

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

Submitted: 2 years ago.Category: Canada Law
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2/17/2016
Lawyer: Debra, Lawyer replied 2 years ago
Debra
Debra, Lawyer
Category: Canada Law
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Are you saying that even though you are divorced you still hold shares in the company?

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