Judge: up-front interim divorce award fully justified

On Behalf of | Jul 5, 2018 | Firm News, high asset divorce

Find Waldo.

In a nutshell, that’s what it is all about in a truly high-asset divorce battle between a business principal and his wife — – identifying something specific from amidst a seeming ocean of complexity and confused background.

The apparent bottom line financially for hedge fund manager Remy Trafelet is that he has a vast amount of wealth secreted away in various financial schemes and vehicles across the globe. A recent article chronicling his high-stakes and acrimonious divorce battle with spouse Lara Trafelet refers to the tycoon’s “web of companies, property deals and trusts” that are reportedly worth hundreds of millions of dollars or more.

Much of those assets are believed to comprise marital property subject to an equitable division in divorce between the couple. Lara Trafelet’s major task presently is to locate and value the holdings. The above-cited article refers to her arduous chore of “unpicking the web.”

The New York judge overseeing the matter has noted the tremendous discrepancy in assets held by and readily accessible to the spouses, respectively. The court views that Lara flatly needs help with asset tracking, and recently ordered Remy to pay her more than $4 million in preliminary fees to help her and her team of professionals get on with the task. The interim award is the largest in that state’s history, but insisted upon by the judge as a matter of fair play.

The cited media piece underscores the “scorched earth tactics” that are evident in the case, with such hard-ball litigation sometimes surfacing in select high-asset divorces.

The Trafelet’s case might be singular in its dimensions, but it is not a sheer rarity among hotly contested dissolutions. In fact, it has some instructive takeaway points that are relevant to many divorcing couples locked in high-value money disputes.

Questions or concerns regarding the equitable division of marital assets in a high-asset divorce can be suitably directed to a family law attorney with a demonstrated record of client advocacy in such matters.