On behalf of Law Offices of KML Associates, Attorneys at Law, Karen M. Lavin, Attorney at Law
Brian France, chief executive of NASCAR, likely thought he had seen the last of a courtroom when the end of his marriage was finalized in 2008. But, as many Illinoisans could have told him, divorce is not necessarily the end of litigation, especially for someone worth hundreds of millions of dollars.
The latest brouhaha in the France saga involves the financial terms of the couple’s divorce agreement, which covered alimony, child support and property division. According to recently unsealed court documents, France’s ex netted almost $10,000,000 (presumably as a property division buyout) along with about $30,000 per month in alimony until 2018 and another $10,000 per month in child support.
That might seem like a big pile of cash – it is – but that is what happens when one spouse is reportedly worth more than $500 million and might inherit more than a billion more from his family, which founded NASCAR.
But money was not the only interesting thing unearthed when the court ordered the couple’s divorce documents unsealed. Those documents also chronicled how France has allegedly refused to pay his ex-wife on occasion to, as his ex-wife put it, punish her. That includes refusing to pay $3 million he owed her as part of the divorce settlement in 2009 as well as balking at paying for about six months worth of governess expenses.
Unsurprisingly, France describes his refusals differently, claiming that his ex-wife squandered his fortune by spending staggering sums of it while doting on her friends and family. He also claims that he had the right to refuse because his ex allegedly violated a confidentiality agreement signed as part of the divorce.
Source: Huffington Post, “Brian France: NASCAR Chief’s Divorce Documents Unsealed,” Mitch Weiss, May 8, 2013
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NASCAR CEO’s divorce continues to haunt him