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McCourt’s back where they started after fraud alleged: in court

On Behalf of | Oct 5, 2012 | Property Division

It might take quite a search to find a divorce case that more truly qualifies as a complex property division dispute than the McCourt matter that has been prominently scoring headlines in Los Angeles and elsewhere across the country for more than two years.

Many readers who were following the matter might have almost reached their personal breaking points tracking all the nuances and maneuverings in the case before it finally settled late last year, with Jamie McCourt receiving $131 million.

But ex-husband Frank then went and sold the professional baseball team he owned since 2004 — the illustrious and, to some people, nearly hallowed Los Angeles Dodgers — for about $2 billion in May of this year. That figure solidly trumps all other amounts ever involved in the sale of an athletic organization, and the price tag has had Jamie McCourt seeing red for months.

In fact, the divorce drama that finally seemed to have reached its conclusion last year is now solidly back in play, with Jamie filing a motion in Los Angeles Superior Court just last week that seeks to set aside the settlement the couple executed. A hearing on the matter is scheduled for November 16.

Jamie McCourt alleges that the $131 million figure she agreed to was premised on the Dodgers being worth about $300 million. She charges Frank McCourt with fraud in downplaying the team’s true valuation.

With the team being sold for $2 billion rather than $300 million, Jamie McCourt’s attorney notes that “Mr. McCourt got about 93 percent of the family assets, and Mrs. McCourt got about 7 percent.”

That is a division of assets that Jamie McCourt says is grossly unfair, and she wants the settlement tossed out.

Source: USA TODAY, “Ex-Dodgers owners Frank, Jamie McCourt back in court,” Sept. 26, 2012