Posted on 08/24/2005 3:07:06 PM PDT by NormsRevenge
LOS ANGELES (AP) - A judge refused a request by Ameriquest Mortgage Co. founder Roland Arnall to limit his ex-wife's look into his net worth as part of her attempt to get a higher divorce settlement.
Sally Arnall's attorney, Vicki Greene, asked Superior Court Judge Richard E. Denner to approve a broad investigation into the finances of Arnall, who is President Bush's nominee to be U.S. ambassador to the Netherlands.
"We want to assess all the assets that were not disclosed or undervalued," Greene said.
But Leonard J. Meyberg Jr., lawyer for the Ameriquest founder, told the judge Wednesday that an investigation into his client's assets would violate the confidentiality of Arnall's mediation agreement reached during the couple's 1998 divorce. The couple was married 37 years.
The judge agreed, however, with Greene's argument that the request to limit the information was too broad and there was communication outside of mediation that was not protected by the confidentiality agreement.
Arnall, who is awaiting Senate confirmation hearings and whose Orange-based firm is being investigated in 30 states, will now have to give a deposition in the divorce case, likely next month.
Sally Arnall, who wants Ameriquest Mortgage to be re-evaluated, said in court papers she had no idea of the extent of Arnall's business operations until she saw the November 2004 issue of Forbes magazine, which estimated her ex-husband's worth at $2 billion.
"I believe I was misled and that I received substantially less than my share of the financial empire we amassed during our marriage," Sally Arnall said.
She went to court in June to reopen the seven-year-old mediated divorce settlement, in which she allegedly received $11 million and homes in Hancock Park and Palm Springs. Roland Arnall received two other houses, Ameriquest Capital Corp. and its subsidiaries, including Ameriquest Mortgage.
Ameriquest has been investigated over its lending practices, leading the company last month to set aside $325 million for potential settlements.
This guy is in trouble, The lawyers want all they can get, because the more the wife gets the more they get.
How about, "the couple had been married for 37 years". I guess this guys divorce case is important because he's a Bush appointee for ambassador, and him trying to prevent his ex from taking him to the cleaners for everything is national news. After all, After you commit to marriage, 99% of everything you have becomes your wife's, even though she may have contributed nothing towards earning any of it, except spending it along the way.
Dang, we just refinanced with them.
Dang, we just refinanced with them.
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The Ditech guy is super-bummed too. :)
He may or may not deserve to get his clock cleaned. Depends on the reason(s) for the divorce.
If he was playing around on her and lied about his worth in court then he deserves to get his clock cleaned.
If she was the party playing around...life is tough.
And to have investigations of his company in 30 states does not make him look like a good candidate for being an Ambassador for our country.
I don't think anyone DESERVES to have their clock cleaned in a divorce. The eventual financial meal ticket is the prime factor in most womens marital decisions in the first place. If she had something to do with earning the money, then she has a valid claim. All else is robbery.
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