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High asset divorce between hedge fund managers grows ugly

A man in Chicago, who is currently a hedge fund manager, and his wife, who used to be one herself, are getting divorced. The man is a billionaire, and his wife reportedly has $50 million as well. As is often the case with high asset divorces, things are now growing a bit complicated.

For one thing, the woman asked for a restraining order against her husband so that he could not come into her house. He has asked for it to be removed, but it has not at this time.

On top of that, she has claimed that she should get some compensation for the man's assets, which include credit cards, private jets and real estate. The man has challenged this, and he is asking the judge not to award her any money from the things that he owns. He says that she has an affluent lifestyle, but that he does not want to be forced to support it.

His reasoning is quite simple: The woman was very successful in her own career, and, as mentioned, estimates of her wealth put it at about $50 million. He thinks that this is more than enough money for her to support herself without his help. Since so much money is involved, this is not the same as a divorce where alimony is needed because one party does not have enough funds to make ends meet.

When you are looking at a divorce case with a high amount of wealth, things can get ugly in a hurry. People in Illinois must make sure that they know what options they have to get a fair settlement.

Source: CNBC, "Citadel founder's divorce battle over property gets uglier" Kate Kelly, Oct. 22, 2014

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