Ltd company plus personal assets

[mandiebcw]

I was with my ex partner for 13 years we had 3 children together but we never married.During our time together we purchased many properties some in our personal joint names and some in a Ltd company we set up together. Both of us directors with an equal share. 1 share each.
Since our separation 8 years ago my ex refuses to sell any of the properties. He collects all the rental income and refuses to account to me for any of it.
he also refuses to provide me with copies of any paperwork/tenancy agreements etc However he runs up a tax bill in my name each year on the profits!


I have attempted on may occasions to involve a solicitor however my ex does not comply and eventually the solicitors give up writing letters etc and I just get left with a large bill for nothing.


With regards to the company he runs his business from a commercial premises that the company owns, he doesn't pay the correct rent (if any) and refuses to show me any tenancy agreements, which cannot be legal as I have never signed or agreed to any of it.


I do not have any monies in order to pursue him by myself via the courts, I am hoping to find a solicitor who will help me and then take the fees from the profit from the properties once sold. I have contacted many solicitors to try to get this type of deal but none ever are interested


I have recently completed a land registry search and there is plenty of equity in the properties once debts etc are paid I just need to find legal representation someone who is very firm as in the past my ex runs rings around solicitors etc
Any help would be great as I really need an end to this on going problem as it is effecting my health and financial well being.

[MissFM]

Re: Ltd company plus personal assets

Hi mandiebcw and to Legal Beagles!

As you are clearly aware, your ex-partner has no legal right at all to behave in this way.

If it were me, I would maybe start with an account of all he owes you from when you separated, meticulously set out, sent recorded delivery, along with formal notice that you wish to realise your financial stake in your joint property (ditto).

There are some very knowledgeable beagles on here who will be along soon!

x

[mandiebcw]

Re: Ltd company plus personal assets

Hi there many thanks for the info. However after 8 years I have taken this route and he just ignores it. There was also a bridging loan signed by both of us (me very foolishly) this was signed after we broke up. my ex promised that this would be used to pay the debts mainly in my name that were crushing us . however he disappeared with the money and to date has never provided a breakdown, I believe that he used it to purchase other property in his sole name. however he never paid a penny of the bridging loan and it has now been added onto the properties we jointly own! I recently tried to have the commercial property valued as this one is difficult to estimate the cost of its in London and my ex now runs his own business from there, this property is owned by the company and he as director refuses to provide any paperwork or pay market rent! He simply refuses the valuer access? I have read in company law that a director should not use company assets to benefit himself in a personal capacity, I have spoken to a few solicitors hoping that they would take on the case, they all tell me that I am looking at £20k? This i dont have

[enquirer]

Re: Ltd company plus personal assets

I have spoken to a few solicitors hoping that they would take on the case, they all tell me that I am looking at £20k? This i dont have

Some of the properties are in your joint names, so you can force a sale.

The tax and legal ramifications of this are so complex, that you do really need a legal professional. The company will certainly need to be wound up, and from the sound of it, the police involved.

[mandiebcw]

Re: Ltd company plus personal assets

Thanks for the reply How would I get the police involved? Last time I tried they were not interested and said that it was a civil matter?

[Wombats]

Re: Ltd company plus personal assets

I think courts try to avoid breaking up companies when reaching agreements, but this is a complex case. Are you saying you've seen no accounts at all for the period?

Roughly what share of properties are co-owned and what share are owned by the limited company?

Is the legal ownership registered with the Land Registry in joint names where not owned by the company?

[mandiebcw]

Re: Ltd company plus personal assets

I havent seen any accounts for years, in fact no accounts have been agreed signed off by me, when I questioned the company accountant he informed me they (accountant & ex partner) submitted the accounts to stop the company being stuck off! I believe they did this as they realised that I was returning to the Uk and realised that I wouldn't agree to the accounts being submitted without seeing the paperwork. There are a total of 5 owned by the company and 4 owned jointly and yes all are registered with Land registry

[Wombats]

Re: Ltd company plus personal assets

Accounts can be bought over the internet I believe. I also thought (though I'm not at all a property specialist) that it was fairly straightforward to force sale of property outside a business as part of a separation.

There are some issues regarding the non-business side of things which may be relevant here:

http://www.stephensons.co.uk/site/in.../cohabitation/

[enquirer]

Re: Ltd company plus personal assets

Thanks for the reply How would I get the police involved? Last time I tried they were not interested and said that it was a civil matter?

Approach them again - draw up a detailed account of the whole situation. You will need to make a good presentation.

Fraud on this scale most certainly is a police matter, so don't allow yourself to be fobbed off with this 'it's a civil matter' nonsense. They say this because (a) they are lazy, and (b) because they want to fiddle their crime figures. If they continue to be unenthusiastic, suggest that perhaps you should take it up with the Chief Constable, as a complaint against police.

[mandiebcw]

Re: Ltd company plus personal assets

Ok thats great thank you very much I will do that and let you now how I get on Many thanks