Latest News 2011 November Wife Wrestles Away Most of Cash in Wrestler's Divorce Settlement

Wife Wrestles Away Most of Cash in Wrestler's Divorce Settlement

A popular wrestler, divorced for two years from his wife, has settled the couple's divorce, and the division of their assets have been made available to the public eye, as reported by the St. Petersburg Times and several mainstream news media outlets.

H.H., now semi-retired as a wrestler, and known in legal documents as T.B., agreed to give his former wife, L.B., 70 percent of the couple's liquid assets and 40 percent ownership in his different companies.

The 70 percent amount is figured to be approximately $7.44 million of the couple's shared $10.4 million that was held in both bank and investment accounts.  The remaining 30 percent, staying with T.B., is estimated at $3.97 million.

Though T.B. will not be paying L.B. any alimony, he will pay her $3 million for their "property settlement" per the filing. 

The divorce settlement, though originally confidential, was made public when T.B.'s attorneys attached it to a new motion they had filed.  

Other items listed in the court document include T.B. maintaining all of his earnings from personal appearances, the sales from a book he published in 2009, and his collection of vehicles.

L.B. sold the couple's beach home already for $1.65 million, and, per her lawyer, Ray Rafool, kept the money as a portion of the $3 million property settlement due to her.

All remaining residences the two owned are to be sold - millions are expected to be collected and divided between the two - once T.B. pays the remaining property settlement to L.B.

One of the homes was used by the couple in a reality television show.

L.B. will keep several vehicles: a Mercedes-Benz, a Cadillac Escalade, a Corvette, a Rolls Royce, as well as other off-road vehicles. 

The couple, married in 1983 and divorced in 2009, has two grown children together, one son and one daughter.

Due to a dispute over how much T.B. owed L.B. from his company that manages his trademarked products - selling items that look like the wrestler - the divorce settlement surfaced in the courts. 

Last December a Pinellas circuit judge had ordered that T.B. pay L.B. approximately $126,000 in company revenues, an appellate court agreed with the ruling, but T.B.'s lawyers argued that the asset disputes had to go through arbitration and not the courts - and asked the judge to set aside the order for payment.

T.B.'s attorney, David Houston, argued that the order is faulty as it tells his client to pay L.B. 40 percent of gross revenues instead of 40 percent of net revenues - which was the couple's original agreement.

Houston is pushing the change as he sees that his client will have years of payments to make.

If you are in a divorce battle, and the division of your hard-earned assets is at stake, contact a family law attorney for help.  A good attorney can help you get through a divorce battle and back to enjoying your life!

Categories: Divorce

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