Member Article

Manchester divorce expert invited to give keynote lecture at King’s College, London

A Manchester divorce expert will be delivering a key-note address today at one of the country’s most prominent university colleges.

Gareth Curtis from Stowe Family Law will be shedding light on the complexity of divorce in a family business at King’s College, London.

The lawyer - who has extensive experience in divorce cases and financial remedy law with a particular interest in complex financial remedy cases - said: “There is often widespread confusion about the impact of a divorce on a business.

“It brings not only financial concerns but also can bring even further strain on relationships that have broken down.

“These concerns are often shared by other members of the family who are not going through the divorce, but have a vested interest in any impact on the family business.

“It is not an understatement to say that SMEs are the cornerstone of the British economy. Many SMEs are owned by members of the same family, and we regularly advise people going through a divorce who own their own small business or have an interest in an SME.”

Mr Curtis, who has been practising since 2003, said a business is considered an asset, and if it has value this will be taken into account by the courts when dividing a couple’s assets.

Extracting value from a business can be difficult, but it is rare that a business will have to be sold as a result of a division of assets, and courts attempt to avoid this result.

It is also unlikely that shares will have to be transferred as part of the divorce if the spouse has no involvement with the business.

If a business was set up prior to the marriage, then there may be some available arguments to ring fence some or all of it from division in divorce depending on the individual circumstances.

Mr Curtis added: “With financial settlements no case is ever the same. There is no set formula for division of income and assets.

“The law is ever evolving in its interpretation and application, but it will come down to one simple question. What is a fair split for this particular couple and their children?”

This was posted in Bdaily's Members' News section by Mark Watts .