Three Men, One Wife: husband’s business partners sued in “dirty soap opera” divorce
In an unusual move for a divorce case, a Queens judge added Benny Tal’s business partners as defendants in Benny’s divorce action because the three men had colluded to hide Benny’s assets from his wife Michal. As Michal told the New…
Feuding Singapore Duo Settle Marital Asset Dissipation Claim
According to Bloomberg, the co-founders of Ezra Holdings, Ltd., a Singapore-based offshore marine company, reached a confidential settlement resolving their lengthy legal battle over $164 million in marital assets. Much of the dispute centered…
Heirs Look to Cash in on Stolen Oil Rights Hidden in Secret Company
Grandchildren of the late Judge Leander Perez, a segregationist political boss who ruled Plaquemines Parish, Louisiana from the twenties until his death in 1968, recently filed a so-called “legacy lawsuit” against several large oil companies…
Husband May Face Jail Time for Hiding Assets in Offshore Companies
A London judge has ordered oil trader Michael Prest to pay his wife over $600,000 in support and alimony payments or face jail time. Prest’s case gained attention last year for a landmark U.K. Supreme Court ruling permitting Yasmin Prest…
Former Brooklyn Prosecutor Convicted of Fraud on NYC Transit Authority
According to the New York Law Journal, yesterday, a Brooklyn jury convicted former Brooklyn prosecutor, John Headley, of fraud and misconduct over his misuse of New York City Transit Authority funds. Headley’s company, Advance I.M.E. Co.,…
Hidden Tax Money: Overpaying This Year to Get a Refund Post-Divorce
PROBLEM:
Your debtor has been in charge of handling the family’s finances throughout your marriage and you’re completely in the dark as to what is on your tax returns.
SOLUTION:
We spend an awful lot of time telling you…
Finding Litigation Awards and Settlement Proceeds
PROBLEM:
For years, you have heard your debtor complain about a lawsuit between him and his former business partner. You suspect that the case is nearing a close, and that the debtor may receive a sizeable payout. The debtor…
Finding and Valuing Stock in a Private Company
PROBLEM:
As part of a divorce settlement, the debtor offers you shares he owns in a private company, but he refuses to turn over the company’s financial information. Because the company is private, the value of its shares is not public…
When Debtors Make Themselves Look Poor by Raising Spending
PROBLEM:
To make himself appear cash-poor, the debtor, a small business owner, increases his business’s discretionary expenditures knowing that he can recoup the money after the divorce is final.
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SOLUTION:
This problem can take…
Maybe Next Year: Delaying Income to Make Business Seem Worse
PROBLEM:
The debtor shows you some accounts from his business, and business is bad. However, that is because he is putting off booking income this year to make himself look worse-off financially than he is. Once the divorce is final, all that…
