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Family Business Issues

It is not uncommon that in a long relationship, family members will go into business together or even set up a series of businesses. Sometimes these businesses involve the adult children in the family and quite often they involve a complicated web of corporate vehicles.

Simple & complex business structures

Examples of family business structures we have dealt with often include monies invested by the in-laws and also monies invested by the children. At its simplest, this may be a partnership or limited company where different amounts of money have been invested over the years. At its most complicated, ten to forty separate companies in separate countries may have been set up and the various different members of the one family may hold numerous different directorships, interests or shares in the different companies. This makes it all the more important to establish the value and ownership percentages of different members of the family at an early stage.

How to agree a company valuation

Sometimes the correct approach is to use an independent expert to establish an agreed value of the company or corporate group. Coming to an appropriate settlement may involve having other family members “intervene” in proceedings to protect their interests in the family businesses. Similarly, in-laws or other interested parties may do the same. Discretion and confidentiality may also be important if, for example, one of the family businesses is publicly listed or has outside investors or stakeholders. It is possible to obtain orders or agreements on confidentiality if this is required. The Family Court can also make a wide range of orders which extend to and include companies as well. In some proceedings a separate company series of orders and agreements may also be reached in separate specialised courts if it becomes necessary. We recommend considering and weighing up all the options carefully before proceeding.

If you have some family business interests that you wish to protect we recommend you contact us. See also our problem scenario below.

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Family Business Scenario

Mr B happens to be the brother-in-law of Mrs A who is involved in bitterly contested divorce and financial proceedings. Mr B is worried because he  invested in one of the properties that is part of Mr B’s property development business. He understands that Mr and Mrs A are negotiating to sell assets from the business to fund Mrs A’s settlement. He wants to know what we can do to protect his interest in the property.

Our Solution:
We recommend to Mr B that he “intervenes” in proceedings. Mr B does so and this protects his investment. Mr B’s intervention provides clarity and this narrows the issues in dispute.

Note: The above scenario does not relate to any individual clients of ours but the facts and the outcomes relate to some similar experiences in our practice.  

What our clients are saying:

‘LJ’, Australia (June 2020)

“I am writing to thank you for your work about 19.5yrs ago helping me register for child support in Australia as this claim has only just come to fruition. The Australian Child Support Agency have been tenacious and have taken the father to court but he successfully defended himself by structuring all his finances jointly with his partner. As a New Zealander living in Australia for 30yrs+ he is now seeking citizenship and I presume that is why the very first cheque has finally arrived, to remove defaults from his record.

At the time, as a single parent with a sick baby, feeling vulnerable, your clear and calm support helped me enormously… You also helped retrieve funds from him when he was apprehended factoring money…  It has been a long wait of two decades, thank you again.”


Google Reviews

Brookman Solicitors

89 Reviews

Karuppiah CT 18/10/2020

Mr Brookman was very thorough, professional and spot on. He understood my requirements, the complexities of the case and has dealt with it superbly. I'm very pleased with the service provided. Thanks very much.

Mohamed Ashraf Rashid 16/09/2020

Divorce is not very easy and sometimes one doesn't know what to do but when you have the right people dealing with the matter than it makes it easier.

I was recommended to Henry and initially I was hesitant to use a lawyer for my divorce matter purely because of the costs but in certain circumstances, it is better to go for it. It may seem costly but one doesn't have a choice.

The initial appt gives one an opportunity to hear the lawyer out and then to ask questions relevant to one's case.

The service was great - Thank you

Yesima Hamid 04/09/2020

I want to highly commend Brookman Solicitors firm. I had the privilege of getting very thorough and sensible advice from their solicitor Jennifer Douglas. I don't have enough praise for her. She made me feel at ease and 'got me' and understood very well all the issues and her advice was on point. I felt she had my interest at heart in all the different matters. She was very accommodating and willing. She truly made a difference. She has great insight and I truly recommend her and the firm. They are very professional with the human touch.

Roohie Mahajan 16/08/2020

I am so happy that I hired their services. I am from India and it was my international divorce case. My ex husband is in the UK. I had a free telephone conversation with Henry Brookman and I was so satisfied that without even meeting him I was so confident. My case was handled in the best way possible.

He is probably the one of the best lawyers in the world. He is extremely competent, professional, intelligent and empathetic. The only lawyer who genuinely work to help you rather than making money. He is a very experienced lawyer and he saved me so much money. He is so calm and kind towards his approach. He is the most genuine person I have come across.

I just came to London once to attend my hearing. My husband and his solicitors made it so complicated. My ex husband has to spend double the amount of legal fees than me. This is the difference between hiring a good experienced lawyer. Their fees might be expensive but good lawyer will make you save money at the end. Finally at the end I won the case and my husband has to pay all my legal fees without me travelling to the UK. I will always be eternally grateful to Henry Brookman and Brookman Solicitors. I am falling short of words to praise them.

I highly recommend their services. Keep up the good work.

Jen Ade 23/07/2020

I had an initial consultation and Henry was well prepared. He gave great advice and followed through quite quickly. He was very helpful.