When a divorce gets contentious, it can seem like the wheels come off of the whole process rather quickly. Most of our Maryland readers probably think that no one wants to find themselves in the middle of a heated divorce fight, especially if it is a high asset divorce. With the multitude of issues to be decided by the parties, albeit with the help and direction of the judge, less friction can often be the best route. However, for one NASCAR CEO currently battling it out with his ex-wife in court, he is taking his fight to the next level in his attempt to keep their proceeds private.
CEO Brian France has moved up to the Court of Appeals with his arguments. The whole ordeal stems from his argument that his spouse has broken some confidentiality agreements, and therefore the proceedings should be kept from public view. The trial court did not agree with France, but he appealed that decision.
France had reportedly reached a separation agreement, in which he was to pay millions to his ex-wife, including thousands in alimony and child support. But, things changed after the alleged breaking of the confidentiality agreements only five months after the divorce, and now France is back for more litigation.
Oftentimes complex asset division can get a high asset divorce bogged down rather quickly. Disclosure can also become an issue when one party is worth significantly more than the other. But there are often fights that many of us will just never understand. Maryland residents reading this kind of story probably just shake their heads, and, these days, that can be the right reaction. It is almost always better for divorcing parties to reach an amicable settlement. Divorce litigation these days usually only makes things much worse.
Source: USA Today, “NASCAR CEO tries to keep court hearings private,” Emery P. Dalesio, Sept. 25, 2012