It’s truly the divorce tale that seemingly never ends, with property division matters always front and central, and material developments that surfaced just last week have once again thrust the divorce saga of one-time Los Angeles Dodgers owner Frank McCourt and his former spouse Jamie back into media headlines.
The McCourt dispute — acrimonious, complex and lengthy — went through myriad phases after the couple’s marriage ended in late 2010. Initially, there was massive confusion surrounding a settlement agreement that was executed multiple times, with one version of the document providing for a certain outcome and another version yielding an entirely different result. There was bickering over whether the couple owned the professional baseball team together or whether the team belonged solely to Frank as separate property. There was intervention by Major League Baseball, team bankruptcy protection and an eventual sale of the Dodgers amounting to $2 billion earlier this year — the highest outlay ever for a professional sports team.
Centrally, though, it’s always been about division of assets, with the matter seemingly settled when Jamie agreed to a settlement pursuant to which she received $131 million.
Now, though, it is once again decidedly unsettled, especially following a motion filed by Jamie McCourt just last week that charges Frank McCourt with fraudulently misrepresenting the Dodgers’ worth. Jamie states that the settlement was predicated on her good-faith belief that the team assets were worth about $300 million. The actual sale amount resulted in Frank receiving more than 10 times the amount that Jamie did in the settlement.
The motion to vacate the divorce settlement is scheduled to be heard next month.
SOURCE: USA TODAY, “Ex-Dodgers owners Frank, Jamie McCourt back in court,” Sept. 26, 2012
- Property division is often at the heart of a divorce proceeding, with asset division sometimes being a contentious and complex matter. Please visit our Alpharetta, Georgia, Property Division page to learn about our firm’s staunch and proven representation of clients throughout Georgia with property division concerns and considerations.