Protecting Business Privacy in Divorce Financial Proceedings
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Business owners: protecting privacy of confidential information in financial proceedings on divorce
We represent many business-owners in financial proceedings on divorce. They are, naturally, often concerned about sensitive company information being disclosed as part of the negotiations or court proceedings.
As part of financial disclosure on divorce, Forms E are completed and exchanged. Thereafter, the parties can ask each other, through their solicitors, questions on their disclosure and requests for further information (which must be proportionate). Where a spouse has their own business, or shares in a private company, the value of the shares will need to be ascertained, and detailed questions will be asked about the company. Even more so, if a forensic valuation is ordered by the court.
There is often a level of discomfort for the shareholder about disclosing management accounts and other detailed information about the company, which may be commercially sensitive. The shareholder may not be confident they are permitted in the company documents (such as a shareholders agreement) to disclose the information, but equally they may not wish to go to the board or other shareholders and let them know that they are getting divorced.
How can the shareholder who is getting divorced be reassured that this information will be kept confidential?
In financial proceedings on divorce, the spouses are compelled to provide full financial disclosure of all their financial circumstances. There is an implied undertaking of confidentiality when they do so – this is in case law, and also in the Civil Procedure Rules (CPR 31.22(1):
31.22: (1) A party to whom a document has been disclosed may use the document only for the purpose of the proceedings in which it is disclosed, except where:
- (a)the document has been read to or by the court, or referred to, at a hearing which has been held in public;
- (b)the court gives permission; or
- (c)the party who disclosed the document and the person to whom the document belongs agree.
This sits alongside rights under Article 8 (respect for privacy and family life) of the ECHR.
It means that information or documents provided under obligation to the court may not be released to non-parties, or used outside court, except with the court’s permission. To do otherwise would be a breach of confidence and a contempt of court. Prior to the provision of information to the other party, it is often a good idea to them in writing of this obligation, in case this hasn’t been explained to them by their solicitor.
For those not in the public eye, in financial cases on divorce , usually only the parties, their legal teams and the Judge are present. Orders such as a Financial Remedy Order, made by the Judge in Chambers (in private) are confidential and cannot be shown to third parties without the permission of the court. Sometimes, a party to proceedings would want permission to disclose a Financial Remedy Order, or particularly a Child Arrangements Order to the Child Maintenance Service. If that is a possibility, then it is preferable for the parties to agree this, and seek the Court’s permission to include it in the Order at the time it is made.
Cases with media interest
For those in the public eye, there is also the concern about the risk of disclosure of information to the media.
Because Family Court proceedings are usually in private, the public don’t have a right to attend. Reporters are, however, able to attend family hearings that are held in private and you may have heard of the Transparency Review – journalists will be able to request a transparency order in all family courts so that they can report on family cases. The rollout is staggered, and transparency will first apply to public law (care cases) – then to private law. Journalists are not going to be able to attend FDR hearings. However, if a journalist is granted a transparency order at another financial hearing, they may be permitted to have access to a very limited amount of documentation (the Position Statements of both parties and the Form ES1) but specific details about the case (names, addresses etc.) cannot be reported on.
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For expert legal advice, contact our experienced financial settlement solicitors by:
- Filling in our online enquiry form; or
- Calling us on 020 7485 8811
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Osbornes is a hugely impressive firm that offers strength and depth to its clients.
Lisa's substantial insight into financial disputes involving high-net-worth individuals is where her skills lie.
Yael Selig is bilingual in Spanish and English. She is the go-to person for divorce cases involving Gibraltar particularly, or Spain.
Lisa pepper heads the Mediation team and she is often mediating for high-net-worth individuals in both financial and private children matters.
The family law team at Osbornes is one of the strongest in London.
Osbornes‘ family team is headed up by Mark Freedman, a mediator and fighter who will get the job done on both complex financial matters and international children cases.
A market leader across public law, international cases, financial and children work.
Lisa Pepper is particularly recognised for her role as a mediator in complex cross-border disputes. Her practice also includes handling prenuptial agreements and issues arising from divorces. She is additionally skilled in Schedule 1 and other child arrangement matters.
Mark Freedman frequently takes on high-value financial and children proceedings that involve complex tax, trust and accounting issues.
"Andrew Watson is respected and tenacious in matrimonial finance. You would want him on your team."
"David Leadercrammer is such an experienced wonderful lawyer who you would want on the other side of your case. He’s sensible, pragmatic and hugely experienced in money and children cases."
Andrew secured me the best financial settlement for my claim. He is a credit to Osbornes Solicitors.
"Lisa Pepper was recommended to me as non-nonsense and able to help me with a difficult and confrontational divorce. She more than lived up to that – she was practical, collected and always available with a clear opinion and suggestions of how to move forwards. She also was open and helpful about costs and how to mitigate them"
"Mark Freedman is a very capable lawyer, renowned for not being a pushover and pushing his clients’ cases as much as he can, but will always talk sensibly about settlement. He is among the best – tenacious, good judgment and tactically aware."
"Mark Freedman is a dynamic and highly experienced family lawyer who fights extremely hard for his clients and is always in their corner, thus ensuring their loyalty and confidence. In a trial you would always want him on your side."
"She has impressed me as someone who fights my corner but also understands the importance of resolving issues without unnecessary escalation. She is calm and reassuring."
"Her mediation practice is exceptional; she is also a great solicitor and has a breadth of skill which is really useful."
"He is really experienced and wise. He has a lovely manner about him and clients feel safe with him."
"Jo Wescott is top notch and widely recognised as a rising star throughout the profession. She brings a winning combination of great judgement, an immense work ethic, and a relaxed and charming way with opponents and clients alike. Someone you want on your side”
"Osbornes is pre-eminent for family law in North London. Mark Freedman is a real rainmaker. He is an excellent lawyer and has a top-notch practice"
Mark Freedman is intelligent and personable and has a good selection of high-net work cases.
"Exceptional value for money. Highly competent and reasonably priced. Mark Freedman: one of the best in the field."
"Client-focused. Ready to fight the clients’ corner, but also ready where possible to steer client from unnecessary dispute. Mark Freedman – very experienced, with good instinct for the eventual result. Clients love him and he thinks ahead and directs the client to the best result for the client."
Mark Freedman is a serious player. A fearless family law litigator, who protects his clients’ interests passionately.
Breadth of knowledge and willingness to go the extra mile is what makes it stand out. Mark Freedman – devoted to his clients
Mark Freedman frequently takes on high-value financial and children proceedings that involve complex tax, trust and accounting issues. Sources praise the "tenacity and common sense" he brings to challenging disputes.
"Mark is very experienced, competent, good with clients and takes a sensible approach to cases. He knows exactly what he's doing."
"An exceptional outfit. They take on difficult cases, fight hard and win."
"The team frequently deals with cross-border estates for high–net-worth individuals."
"Mark Freedman is a real heavyweight litigator who has dealt with some very significant cases."
"Mark Freedman boxes clever, keeps his powder dry and when it comes to the end game he negotiates a really good deal."
"Mark Freedman has a specific focus on high-net-worth divorces and finance cases where there are overseas assets and trusts."
"Lisa Pepper somehow manages to get parties to settle on matters where there isn’t much hope to start out with."
"Well-regarded family practice assisting clients with substantial matrimonial disputes and sensitive children proceedings."
"Mark Freedman draws acclaim for his work in high net worth divorce cases, including those involving company structures, family trusts and overseas assets."
"He never gives up. He fights for you to the end and has boundless energy."
Mark Freedman advises high-net-worth clients and knows his stuff.
Highly regarded for his experience as a litigation and mediation expertise, Mark Freedman is tenacious and determined. Clients really feel that he is fighting their corner.
Andrew handled a very complex, 3 year legal battle for me, with a tremendous amount of patience and professionalism. He is very approachable, always kept me up to date, by phone and e-mail, and responded very quickly to my queries with excellent advice, sound strategic thinking and strong letters to put the other side under pressure. With top contacts for barristers, joint experts and mediation.
[The Family Law department] handles significant matrimonial finance cases and complex nuptial agreements. Respected for its expertise in cross-border children law matters.
Mark Freedman represents high net worth clients in complex financial disputes. Sources say that "he's a determined negotiator who'll always do the very best for his clients.
"Mark Freedman receives a lot of instructions from clients based abroad, often relating to complex divorce proceedings. Sources say: “His main strengths are his enthusiastic passion for the job in hand and his total dedication to his clients.”
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