{"id":4676,"date":"2018-11-23T08:41:56","date_gmt":"2018-11-23T08:41:56","guid":{"rendered":"https:\/\/simplylaw.waydevelopers.com\/england-wales\/wiki\/divorce-financial-settlement-could-result-in-ocado-share-sales\/"},"modified":"2023-11-04T13:12:02","modified_gmt":"2023-11-04T13:12:02","slug":"divorce-financial-settlement-could-result-in-ocado-share-sales","status":"publish","type":"articles","link":"https:\/\/simply.law\/england-wales\/articles\/divorce-financial-settlement-could-result-in-ocado-share-sales\/","title":{"rendered":"Forum Shopping: The Impact of Divorce on the UK\u2019s Retail Giants"},"content":{"rendered":"

\u00a0<\/p>\n

In recent years, an increase in spouses of different nationalities battling to have their divorces heard in jurisdictions considered most likely to decide in their favour has given rise to a phenomenon known as \u201cforum shopping\u201d.<\/p>\n

But it is another kind of shopping \u2013 online grocery shopping to be precise \u2013 that has been thrown into sharp relief by national news speculation on the looming divorce of one of the founders of the online grocery delivery firm, Ocado, Tim Steiner, and his wife of 16 years. Perhaps, they wonder, the divorce financial settlement will result in shares in the company changing hands.<\/p>\n

According to various reports, Mr Steiner has filed for divorce on the grounds of his wife\u2019s unreasonable behaviour, an assertion which she is said to be contesting.<\/p>\n

One article, in The Times, has not only claimed that the dispute between the pair might adversely affect Ocado\u2019s share price and image with customers but could force Mr Steiner to sell some of his stake to fund a settlement.<\/p>\n

I believe that the issue might be fuelled by the very recent decision of a High Court judge that the founder of another online retailer, ASOS, should pay his ex-wife \u00a370 million following their divorce (http:\/\/www.dailymail.co.uk\/news\/article-3483635\/Asos-founder-forced-pay-ex-wife-70MILLION.html)<\/span>.<\/p>\n

The terms of that divorce financial settlement included deliberation on the division of shares in the fashion business.\u00a0<\/p>\n

Interest from the media and the money markets is not entirely misplaced. Just over a decade ago, the entrepreneur behind the French Connection store chain was forced to sell \u00a338 million worth of shares in order to pay for his divorce (http:\/\/www.theguardian.com\/business\/2004\/jun\/30\/highstreetretailers)<\/span>.<\/p>\n

However, as eager as the courts will be to see Mr and Mrs Steiner come to a resolution and move on with their lives, they will be keen to avoid destablilising a successful business, not least because it could be the principal means of paying for a divorce.<\/p>\n

In a number of cases which we have been involved with, businessmen and women unable to fund a divorce from their own assets will establish if it\u2019s possible to borrow money before having to liquidate some or all of their shares.<\/p>\n

Leaving aside Mr Steiner\u2019s personal circumstances, he might well have spoken to his fellow directors because they would see their own shareholding affected by any sale.<\/p>\n

As well as meeting the priorities of need and fairness, the courts always want to foster creative and equitable solutions. In Tim Steiner\u2019s divorce, it might be allowing him more time to raise the money to achieve a \u201cclean break\u201d settlement, if, of course, he\u2019s not able to do that already.<\/p>\n

Whether it is in relation to spouses who have made their money in retail or other industrial sectors, divorce does indeed have the ability to affect business, both in terms of shareholdings and turnover, not least because it can distract directors from the job of running a company.<\/p>\n

It is something which people looking to start firms are becoming more conscious of \u2013 for instance, taking out pre-nuptial agreements to limit the impact of divorce on their commercial prospects. Whether checking out online or of a marriage, payment details are to be ignored at your peril.<\/p>\n

\u00a0<\/p>\n

Contact Simply.Law on 0800 368 6338 to speak with a family law adviser or use our contact form<\/a> to arrange a call-back.<\/p>\n

\u00a0<\/p>\n

Click here to return to the main divorce and family law area.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Simply.Law can help you achieve the best possible divorce financial settlement with the minimum possible fuss.<\/p>\n","protected":false},"author":87,"featured_media":7975,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_acf_changed":false,"_joinchat":[],"footnotes":""},"categories":[12357],"tags":[8817,8819,10697,10700,10586,10701,10581],"class_list":{"0":"post-4676","1":"articles","2":"type-articles","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-divorce-and-separation","8":"tag-commercial","9":"tag-divorce-financial-settlements","10":"tag-pre-nuptial-agreements","11":"tag-shares","12":"tag-spouses","13":"tag-turnover","14":"tag-wife"},"acf":[],"yoast_head":"\nForum Shopping: The Impact of Divorce on the UK\u2019s Retail Giants - Simply Law England Wales<\/title>\n<meta name=\"description\" content=\""Explore our comprehensive collection of legal articles covering various topics to help you navigate the complexities of the law. 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