Law Offices of John A. Guthrie
Free Initial Consultation
925-271-4342

McCourts head back to court over divorce settlement

Any divorce may involve emotional issues. Disputes over assets and debts in a complex divorce may create further tensions. But asset valuation itself need not involve emotional issues. Determining the value of a business, for instance, can require complex analysis of the business and the market alike. A recent California lawsuit seeks to revisit asset valuation issues that arose during the McCourt divorce.

Jamie McCourt alleges in her lawsuit that Frank McCourt unfairly persuaded her to arrive at a settlement in the couple's divorce. Reports indicate that Ms. McCourt says that she agreed to a $131 million settlement in the divorce. She claims that Mr. McCourt fraudulently convinced her roughly six months before the team was sold that his total assets amounted to $300 million. Two months after the divorce was finalized, the Los Angeles Dodgers sold for $2.1 billion.

Jamie McCourt now wants the court to set aside the $131 million divorce settlement. She says in court papers that she should be entitled to at least $900 million in the property settlement, apparently based upon the March 2012 sale of the Dodgers.

The lawsuit is scheduled for a three day trial before a judge without a jury. A judge ruled Monday that Ms. McCourt will not be entitled to use Major League documents generated during mediation on the sale of the team in the post-divorce proceeding. That ruling came from the federal bankruptcy judge who presided in the Dodger's bankruptcy. Frank McCourt struck a deal in mediation that included special terms on the auction of the team--the terms leading to the sale of the team were kept secret.

The bankruptcy court issued an order that the mediation was to remain confidential. The judge ruled Monday that he will enforce the order, "because it was an essential ingredient" in resolving the Dodger's bankruptcy proceeding.

Sources:

  • Bloomberg, "LA Dodgers Secret Deal Can't Be Used in Divorce: Judge," Steven Church, April 15, 2013
  • CBS Los Angeles, "Frank, Jamie McCourt Headed Back To Court Over Bigger Divorce Settlement," April 17, 2013

No Comments

Leave a comment
Comment Information

Pleasanton Office
239 Main Street Suite H
Pleasanton, CA 94566

Phone: 925-271-4342
Fax: 925-461-9930
Pleasanton Law Office Map

Danville Office
4115 Blackhawk Plaza Circle
Suite 100
Danville, CA 94506

Phone: 925-648-2074
Map & Directions

Arrange A Free Consultation Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us For A Response McCourts head back to court over divorce settlement | Law Offices of John A. Guthrie