Though the high-profile divorce of Jamie and Frank McCourt ended nearly a year ago, with Jamie McCourt gaining a $131 million settlement, she is now is suing her former husband for an additional $770 million as she claims that he failed to share with her the exact worth of the Los Angles Dodgers, as reported by the Courthouse News Service.
At the time of the couple's divorce, the Dodgers were facing bankruptcy, had lost a television deal, were dealing with a scandal involving a charity, and were arguing with Major League baseball – all while the couple was in the midst of selling the team.
Jamie claims in the new suit, which seeks to set aside the original settlement, that Frank lied to her about the Dodger's value and other assets.
The couple legally divorced on January 19, 2012. Due to the time limit given in challenging a settlement, Jamie said that six of the seven causes of action "are protective in nature."
During the couple's marriage, which began in November of 1979, they had four children. In 2004 Frank McCourt purchased the Dodgers.
The lawsuit states, "The parties had little when they married. They both worked, and with the aid of substantial loans from Jamie's father, they succeeded in accumulating assets. After 30 years, all the assets they had accumulated were quasi-community property or community property."
Frank McCourt allegedly told Jamie that the Dodgers were worth $2 billion in 2004 and had dropped to a worth of $300 million by 2009.
During the marriage Jamie claims that she held a "significant role in the Dodger organization, but not in significant financial dealings. The financial aspects of the Dodger assets were Frank's domain, and at all times relevant to this action, Frank had special and superior knowledge of information necessary to evaluate the Dodger assets."
However, according to Jamie, just prior to the separation Frank fired her from the Dodger organization. According to the suit, "…from that point forward he completely excluded her from every aspect of management and from all information concerning the Dodger assets and their value."
During 2010, while the former couple fought over the divorce settlement, Jamie's experts estimated the team's worth, less its debt, to be near $550 million. Frank "strenuously disagreed with these numbers" and claimed that a total of his assets were worth no more than $300 million.
A deal to sell the team, and split the profits 50-50 between them, was rejected by the league. Frank filed for bankruptcy a week later.
By October 2011 Jamie agreed to take a $131 million settlement and a tax indemnity. Two weeks went by and Frank then made the surprise announcement that he was selling the team.
A "pre-emptive offer" was accepted from the Guggenheim Partners" and Frank then gained "possibly more than $3 billion…"
Along with the increased monetary settlement, James wants the stipulated judgment and marital settlement agreement set aside as fraudulent and oppressive, and/or mistaken and unduly influenced.
If you believe that your divorce settlement is unfair, contact a family law attorney to discuss your case. You, too, maybe be due a higher monetary settlement.