September 4, 2013

Divorce Do-Over

Palm Beach Gardens Divorce Attorney

Many divorce attorneys are astonished by one man’s attempt to rescind his dissolution of marriage agreement with his ex-wife. 

Steve Simkin, a partner at Paul, Weiss, Rifkind, Wharton and Garrison in New York City is suing his ex-wife, Laura Blank, for proceeds that she received from their settlement after his assets with Bernie Madoff turned out to be worthless. In 2006, after 33 years of marriage, Blank and Simkin were divorced. Before they ended their marriage, Blank and Simkin had assets worth $13.2 million. The couple had $5.4 million invested in a Madoff account, which Simkin withdrew towards his $6.6 million cash payment to Blank. Simkin continued to invest with Madoff, while his ex-wife did not. In 2008 when Madoff admitted to his Ponzi scheme, Simkin’s investments diminished.

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Simkin argues that both he and his ex-wife were mistaken about the value of their assets at the time they ended their marriage. Simkin’s lawyers argue that Blank should be required to turn over millions to her ex-husband, while Blank’s lawyers dispute that under the law, an error regarding an account’s future value should not validate redrafting the agreement. Annual profits per partner at Simkin’s law firm are about $3 million, and Simkin is being represented by his firm for free. Locally, most attorneys in here Palm Beach County would agree that Simkin’s argument does not have a great chance for success. 

 

Board Certified Marital and Family Law Attorney Charles D. Jamieson understands that divorce is an extremely sensitive and important issue. Thanks to extensive experience and a focus on open communication, Attorney Jamieson adeptly addresses the complex issues surrounding dissolution of marriage while delivering excellent personal service. To discuss divorce in Florida, please contact The Law Firm of Charles D. Jamieson, P.A.The Law Firm of Charles D. Jamieson, P.A. or call 561-478-0312.

Source: Above the Law 

 

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