Wednesday, December 8, 2010

Judge Tosses Out Prenup: Dodgers ownership still undecided

There is no dispute that the divorce of Frank & Jamie McCourt has been the most publicized divorce this year, particularly since the ownership of the Dodgers will ultimately be determined in the divorce.

It appears that Frank & Jamie McCourt had a prenuptial agreement drawn up, but the testimony revealed that there were different versions of this agreement—one giving the Dodgers to Frank, and one sharing the Dodgers between Frank & Jamie.  The Judge heard testimony for days about this issue, and finally made his decision.

In a 100 page opinion (and yes, that is a very LONG opinion), the Judge tossed out the prenuptial agreements.  The Judge ruled that the evidence showed that Frank & Jamie McCourt never fully agreed on any terms regarding the Dodgers, and that each has a mistaken belief about the alleged differing prenuptial agreements.  The result is that the Dodgers will not be divided pursuant to any prenuptial agreements between Frank & Jamie McCourt.

What does that mean now?  Well, the Judge will eventually have to decide who owns the Dodgers.  Frank McCourt will argue that he bought the Dodgers, that they are owned in his own name, and that the team is his own personal property.  Jamie McCourt will argue that the team was purchased during the marriage and that it is marital property, subject to a 50/50 split.

Lessons to be learned?  If you hire a lawyer to draft a prenuptial agreement—it is probably important to make sure that there is only one version.  Sounds easy, right?  I would assume so—but doesn’t seem that way for the McCourts.

You can read about the Judge’s decision here: Judge invalidates McCourt agreement, leaving Dodgers ownership in question


If you are interested in learning more, please call Wendy Alton at 734-665-4441 or email her at walton@psedlaw.com. More information about her firm, Pear Sperling Eggan & Daniels, P.C., can be found here: www.psedlaw.com.
 

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