Credit Suisse CEO Brady Dougan signed off on his divorce settlement with ex-wife Tomoko Hamada in 2005.
Dougan, 51, agreed to pay the ex $15.3m in two installments. Fair enough. But he was 12 days late making the final payment in June 2006, so he threw in an additional $25,000 interest.
But here’s the rub. Ms Dougan’s lawyers then claimed that, under the terms of the settlement, if he was late with the final payment, Dougan would have to pay interest from the day the divorce settlement was signed (not just the 12 days he was late). And it’s this $750,000 interest payment that was at issue earlier this week, when the matter came before the Connecticut Supreme Court.
And the upshot ? Dougan lost, and will now have to pay over the $750,000.
In addition to the $15.3m, Ms Dougan is also said to have received one of the couple’s homes (worth around $10m), some small change ($143,000) and a 2000 BMW X5. But don’t worry about our Brady (coz he’s still loaded).
In the meantime, The Real Estalker reports that Gene Sykes, a Goldman Global co-head of M&A, is said to have recently shelled out $40m (in cash) to buy a 35,000 square foot chateau-style pile in Bel Air, Los Angeles. Nice.
Finally, Bernie Madoff, 73, has been complaining from his rather less palatial home in a US correctional facility. He reckons that he has been cast as a villan because of the financial crisis, and says that the judge who dealt with his sentencing (he got 150 years) could have given him at least a chance to get out of clink before he died. Hmmm, let’s think about that one (for about 30 years!).