Latest News 2010 September McCourt Mediation a Must

McCourt Mediation a Must

The divorce between Frank and Jamie McCourt has dominated the news for many weeks.  The latest, being reported by KTLA, is the start of their mediation talks in the hopes of reaching a settlement and finally deciding which of the two will become the sole owner of the Los Angeles Dodgers.

Divorce lawyers, and both McCourts, began the process in a downtown Los Angeles courtroom on Friday, September 24. The couple's trial resumes again on Monday, September 27, whether or not a settlement is reached.

Larry Silverstein, one of Frank McCourt's attorneys, admitted on the stand that he did not commit fraud when he changed the prenuptial agreement for the couple, after it was signed. 

He claims to have only "fixed" a mistake in the agreement; that change gives Frank McCourt sole ownership of the Dodgers. 

Jaime McCourt's attorneys allege that Silverstein and Frank McCourt were fraudulent as the change was made without informing Jaime McCourt.  She is asking the judge to toss out the amended agreement.

Jaime McCourt has contended in her testimony that her role as the team's owner should continue after the divorce and giving that up is "preposterous." 

Besides the ownership of the baseball team - and worth hundreds of millions of dollars - is also the stadium and its surrounding property.

It has been alleged by Frank McCourt that during his marriage he tried to please his wife and her tremendous demand for money and homes. In an e-mail from March 2008, Frank McCourt told his wife that he would continue purchasing homes that were becoming more expensive as, "I am willing to figure out how to do it because I want to make you happy."

Frank McCourt also testified that when Jamie McCourt asked for a quarter of a billion dollars during the divorce he "told her no. It was ridiculous. I thought she was wildly overreaching."

A mistake in a postnuptial agreement, per Frank McCourt, that when corrected gave him sole ownership of the Dodgers was caught - though he doesn't know by who - before it was signed. They bought the team for approximately $430 million in March 2004, and the document was signed weeks before that.

Jamie McCourt has sole ownership of the couple's six homes.

There are six copies of the agreement - three list Frank McCourt as the sole owner, but the other three don't.

Due to California's community property law, Jamie McCourt is pressing for all of the couple's assets to be divided equally.

When Jamie McCourt was fired as the team's CEO last year, she was told that she was not performing the job well enough.  At the same time Frank accused her of having an extra-marital affair.

Jamie McCourt receives $225,000 a month for her spousal support and $412,159 to pay the mortgages on their homes.  Her attorneys have requested the amount to be increased to $1 million a month so that their client can continue to live in the same custom she had prior to the divorce.

The couple have four grown sons and were married a little over 30 years.

If you have questions regarding assets gained in your marriage and how to protect them during a divorce, contact a Family Law  Attorney in our directory to help you.

Categories: Divorce in the News