Despite the best intentions of the spouses and their legal representatives, divorce is often a traumatic and difficult process. Divorce proceedings are frequently complicated and protracted and the animosity between the parties will often increase where there is a family business.
A business may be treated by the courts in England and Wales as a matrimonial (or civil partnership) asset and indeed in some cases, it may be the most valuable asset. Although a business is not a liquid asset in the way property and cash are, a spouse may ask the court to make money available to them by, for example, the other...