Only the good die young.
Mark Lane, a Managing Director at Lazard Capital Markets LLC who recently returned to work after a 3 1/2-year hiatus to help raise four young sons, has died after being hit by a boat in Turks and Caicos Islands. He was 44.
Bloomberg reports that Lane was on a family vacation when he was struck by a motor boat March 24 while swimming off Grace Bay beach on Providenciales, said Paul Baker, a spokesman for the Royal Turks and Caicos Police.
The banker was snorkeling, his wife, Lisa Craig, said Thursday in an interview. After the collision, which occurred around 3:30 pm local time, he was taken to a hospital and pronounced dead. The incident is under police investigation.
The news organisation also reports that JPMorgan equity analyst Peter Lawrence won a U.K. appeal cutting to $2.18m a divorce payout to his ex-civil partner, former Priscilla Queen of the Desert star Donald Gallagher.
Lawrence must give Gallagher 33% of their assets rather than the 42% share awarded by a lower court, a three-judge panel at the Court of Appeal in London ruled Thursday.
'If this were a heterosexual marriage, and he were the female partner married to a wealthy City trader, he would have walked away with a considerably greater sum', Matt Baldwin, a spokesman for Gallagher’s law firm Boodle Hatfield, said in a phone interview.
Finally, Bloomberg reports that Highland Capital Management CEO James Dondero testified in a divorce proceeding that he’s insolvent under Texas family law, if not according to normal accounting rules.
Dondero, 49, told Texas state court Judge David Lopez in Dallas Thursday that the 2008 financial crisis took his debt-investing firm 'to a state of insolvency and we’ve been juggling liquidity since that'. Highland Capital assets under management fell to $23bn by January 1st that year, from $39bn at the end of 2007.
'The last three, four years have been negative to the tune of hundreds of millions of dollars', Dondero said. The money manager said his annual income is 'a million, two'.