Thursday, March 19, 2009

Alimony: $43 Million Not Enough

From David Collins at the Associated Press:
A 36-year-old Swedish countess divorcing a former CEO says she cannot live on $43 million.
Marie Douglas-David, a former investment banker, says she has no income and needs her 67-year-old husband, George David, to pay her more than $53,000 a week - more than most U.S. households make in a year - to cover her expenses.
David stepped down last year as chief executive at Hartford-based United Technologies Corp. but is still chairman of the board and has an estimated net worth of $329 million. He and his wife accuse each other of extramarital affairs. Their divorce trial started Wednesday.
"I'm just very sad that we are where we are," Douglas-David said. "I hope we resolve this soon so everybody can move on with their lives."
David briefly took the stand Wednesday. Asked if his marriage is irretrievably broken, he simply answered, "Yes."
David and Douglas-David married in 2002, but the marriage was in trouble by 2004, court papers show. Amid a series of reconciliations, the couple signed a postnuptial agreement in October 2005 that would give her $43 million when they divorce.

No comments: