Ltd Company shares and IVA

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Post by jhambie » Tue Oct 09, 2012 4:39 pm
I am getting information ready for my IVA and am petrified as most people probably are.

I am concerned because I own 75% of shares in a private ltd company, they are really my mum's but when her alzheimers got worse she decided that I should have them in my name (my brother, her son died last year and left the shares to her). My worry is that the small business turns over £100k, my husband and I are directors although I do not receive payment (he does as he is the only employee). What will happen to the shares? I transferred them to my husband end of August, as I was concerned about my finances (I am not sure how the IP will view this), but they do not really have a value as such to anyone else. I am very worried that due to my finances my mum will lose my brothers business. Any help/advice would be appreciated.
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