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Frank McCourt to get reimbursed by ex who contested divorce

On Behalf of | Jul 10, 2014 | Firm News

Illinois Dodgers fans may recall when the previous team owner, Frank McCourt, sold the team in 2012 for more than $2 billion. That same year, McCourt got a divorce from his wife of around thirty years. McCourt’s ex accused him of undervaluing the Dodgers and contested their divorce agreement. Due to terms in the agreement, McCourt sought reimbursement of attorney’s fees he accumulated battling her attempt to modify their settlement. A judge tentatively ruled on June 24, 2014, in his favor.

Unless McCourt’s ex-wife successful appeals the decision issued from the judge, she will have to give him $1.9 million for his legal costs. Their divorce settlement included a section that bound both parties to pay the others attorney’s fees if he or she contested. This agreement also provided McCourt’s wife with several of the luxury homes purchased during the marriage. She also received $131 million tax-free.

In September, the judge rejected accusations of undervaluing the Dodgers made by McCourt’s ex-wife. In April, her attorneys attempted to argue that the attorney’s fees were excessive but failed to sway the judge’s decision in their client’s favor. In judge’s ruling states that the terms of the divorce had been negotiated with care and that the settlement was created with the intention to stop litigation.

Although finalizing a divorce allows former couples to start over, reaching a fair settlement can be difficult without help. An attorney could assist with asset division and asking for a reasonable amount of alimony or child support. If a change in circumstances dictates a need to modify an agreement, an attorney could explain why the modification is necessary and suggest new terms.

Source: ABC News, “Judge Favors Frank McCourt in Divorce Fees Fight“, Anthony McCartney, June 26, 2014