Please help! Husband left with my business- what can i do?

Bazey

You don't need to get a solicitor involved. Just ask some morons on an internet forum and they will give you all the help you need.

Was he having an affair?

sassyblue

doggydogdog wrote: »

I know - no offence taken! I was hoping someone may have had similar situation or have some legal knowledge.

why does he get to have half but i have all of the debt still to pay on them. they will milk me for a good hour and i thought someone might know.

Not legal knowledge but l was a director of a company until very recently. Technically yes your husband is entitled to half as you're married - he's entitled to half your assets and vice versa - but here's where you need advice as l'm not sure if the debts are the companies or yours specifically. I don't know about sole traders ours was limited.

BitterAndTwisted

He hasn't changed a business from a sole-trader to a limited company. He's stolen the assets and set up a new company using the original business' client-list and bookings.

If you did "have to step down a little over the summer" who was running the business and doing all the work?

z.n

You set up as a sole trader, debt in your name, items purchased in your name, then those items legally belong to you. It seems to me you are entitled to get them back. No different to if you have a car registered in your name that is then taken by an ex. Your husband may have worked in the business and may be entitled to a share of its value but that is something for the divorce settlement to sort out.

On the face of it (but not knowing the full details) it sounds as though your other half has simply taken your property without your consent, has then set up his own separate and new business as a limited company using your trading name (which presumably also belongs to you entirely or in part and he has therefore 'taken' that from you as well-think infringement of brand names.) He has also 'taken' clients from you (think of the non-compete clauses in employment contracts esp. in customer facing roles.) I have no idea how hard it would be to take action for the name and/or client misappropriation and suspect the legal arguments could be very complex (and expensive). However, if you have all the receipts etc for the equipment then you should be able to either speak to the police (who likely won't be interested) and/or issue joint county court proceedings for their return against both ex and his new company as the situation and the values are in black and white. If you have other assets in the marriage (eg equity in home) then it would likely all come out in the wash in the financial settlement. However, if not then it really does come down to the problem of covering the legal costs-you might have to just focus on the equipment costs. I just wonder if there is any chance of an insurance claim for the items being stolen? Might be worth a phone call for advice from your insurers? I can't help but feel this sort of thing happens all the time (car example.)

In the meantime you are responsible for the debt as it is in your name and you should write a formal letter to your ex setting out the position and stating your ownership of these assets.

Ivrytwr3

If it's your equipment and he has taken it, surely it's a matter for the police?

doggydogdog

He did most of the work and i only attended a few events and helped prep when i could but he did most of it while i was at work as he had no full time job and was making this full time.

He was not having an affair but he was having an innapropriate realtionship with the girl who helps us. Overwhelmed our marriage and 75% cause of the split. It was she who came and emptied the garage actually!!

z.n

Simple solution would be for ex and new woman to keep the equipment and also take on the debt-ie pay you enough to clear the credit cards via a loan taken out by their new company. It sounds like you will not have the time for the catering business as you are working full time and can just focus on getting paid for the equipment? That would be my target in your shoes- you can look at the possible 'joint' value of the business/client list as part of the divorce settlement in due course.

doggydogdog

z.n wrote: »

Simple solution would be for ex and new woman to keep the equipment and also take on the debt-ie pay you enough to clear the credit cards via a loan taken out by their new company. It sounds like you will not have the time for the catering business as you are working full time and can just focus on getting paid for the equipment? That would be my target in your shoes- you can look at the possible 'joint' value of the business/client list as part of the divorce settlement in due course.

I would love for him to just pay me off but he wont. He cant get a loan and although he may agree a monthly payment i know that i will never see a penny of it. He will be doing his own books and make out like he hasn't made enough. Or he will just fold the business and wipe all debts and open it under another name.
(just to play fair, i feel i do need to say there is nothing sexual going on between them. She is married and he moved out of our house in to their spare room..!)

Silk

The Ltd. Company is a seperate entity to your husband, if the company is using your equipment then you could invoice the company for the costs ie the £35k and when he fails to pay issue a winding up petition to cease trading.

Depending on what you wanted you could rent the equipment to the company and draw income from it each month.

doggydogdog

I have just asked him (over text as he will not take my calls) to come over and talk things through and he said he can't make it over until next thursday.
I said i would be persuing a formal route and he told me no and i'd have to wait. He has now just text me saying he cant meet me as he has an important meeting with an accountant before we speak...?
Why would he be doing this?