The Ex-Files: Can I stop my ex from running down his business?
Can I stop my ex from running down his business?
He’s making no effort with his cleaning company and says he’ll just start a new one.
My partner and I separated nine months ago after 15 years together. My partner ran a successful cleaning business that contracted many staff. He has told me he will run down the business and set up a new company. We have loyal customers, but he is not putting any effort into the cleaning business.
He is threatening to open a new cleaning business or move overseas and I will get nothing. He says I can do nothing about it as he is the sole director.
He also has an extensive collection of expensive watches, some of which he is selling on Trade Me. I have photos of some of the watches.
Question: What can I do about the company’s value and my share of the watches?
Answer: I am very sorry about your separation and the problems you are having with your ex. You will need to engage a family lawyer and likely receive advice from an accountant to resolve these matters.
Company value
Generally, the date at which the value of any relationship property is determined is the date of any hearing or settlement.
However, the court has discretion in section 2G(2) of the Property (Relationships) Act 1976 to decide that the value should be determined as at another date.
To continue reading the NZ Herald article and learn how you can apply for claiming compensation when relationship property has been materially diminished in value by the deliberate action or inaction of one party during the period between separation and the date of any hearing, click here.
