Flint Bishop advises Autosupplies Holdings Ltd on acquisition by Alliance Automotive Group UK and Ireland (AAG)
Flint Bishop advises Autosupplies Holdings Ltd on its acquisition by Alliance Automotive Group UK and Ireland (AAG).
Read More
Have you ever considered what will happen to the business, should you or another shareholder pass away?
18 December 2017
Insight
Without any express agreement to deal with what happens to a shareholder’s shares on death, then a family member of the deceased may acquire those shares and have the ability to have a say in the future direction of the business.
A potentially daunting prospect but more daunting still, those shares could be left to someone other than a shareholder’s immediate family who you know, a distant relative or charity.
You may consider that you have already dealt with this as part of any written shareholders agreement you have entered into. However, this frequently only gives surviving shareholder(s) a right to acquire the deceased’s shares but does not give your estate the right to force the remaining shareholders to purchase those shares on death.
Your family may have no way of realising the value you have built in the business if the surviving shareholders do not have the funds to purchase your shares on death. Alternatively, the surviving shareholders or the company itself may simply not have the appetite to use their funds to purchase the deceased’s shares.
A cross-options agreement, supported by life insurance arrangements on your and your fellow shareholder’s lives, can ensure that, should you or another shareholder in your business pass away:
Contact Us
If you would like to progress or discuss the implementation of a cross-option agreement, please get in contact with us by filling out the below form or contact Martyn Brierly (Head of Corporate of Finance) on 01332 226 188.
Knowledge
Flint Bishop advises Autosupplies Holdings Ltd on its acquisition by Alliance Automotive Group UK and Ireland (AAG).
Read MoreFlint Bishop advises Millenium Site Services shareholders on sale to Maple House Capital, supporting business growth and expansion.
Read MoreBowmer + Kirkland has acquired Denton Associates, enhancing its interiors capability and marking a key strategic milestone.
Read MorePrepare for ECCTA identity verification: directors and PSCs must verify by 18 Nov 2025 to ensure compliance.
Read MoreDrop shipping is growing fast. Find out how the right contracts can protect your margins, brand and legal position.
Read MoreR.E.A.L. Education Limited (“R.E.A.L.”), a leading provider of special education services, has been sold to The Aurora Group.
Read MoreLearn about fiduciary duties, commission disclosure, and legal compliance after the Expert Tooling v Engie ruling.
Read MoreLearn how Rukhadze v Recovery Partners reinforces strict fiduciary duties and what it means for your business and governance.
Read MoreThe ICO and CMA's joint statement outlines new AI in finance regulations, focusing on data protection, competition, and consumer safeguards.
Read MoreA decade of progress – but the fight against modern slavery isn’t over, we highlight how businesses can meet stricter transparency rules.
Read MoreNavigate AI regulations in financial services. Key insights from the FCA & ICO on compliance, data protection, and innovation.
Read MoreExplore how to create an AI usage policy that mitigates risks and ensures responsible adoption for your business.
Read MoreScroll to next section
Scroll back to the top
On Monday 29 September, Flint Bishop successfully completed the acquisition of the entire business of Lupton Fawcett LLP. You have been forwarded to the page most relevant to your visit.
Please feel free to explore our website and learn more about our legal services and professionals, including those who have recently joined us from Lupton Fawcett.