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July 2014 Archives

Citadel LLC founder files for divorce

New Yorkers who are familiar with hedge funds may know of Citadel and its founder, Kenneth Griffin. The wealthy founder of the multibillion-dollar Chicago hedge-fund management firm, the net worth of which the Bloomberg Billionaire's Index lists at $5.6 billion, has cited irreconcilable differences in filing for divorce from his wife of 11 years, Anne Dias Griffin.

Hedge fund tycoon must keep paying $50,000 in child support

A New York court ruled that a hedge fund tycoon must continue to pay $50,000 a month in child support to a socialite for the former couple's 6-year-old daughter. The woman is the daughter for a former head of HSBC Bank. A Manhattan Supreme Court justice handed down the ruling, which upheld a child support decision made at an earlier date by a Hong Kong court, on July 17.

Courts rule in favor of Peter Orszag, no child support for ex

New York residents may have heard about Peter Orszag's contentious child support case because he is the former director of the Office of Management and Budget who left his government post for a job with Citigroup in New York. A court ruled in July that Orszag should not pay his ex-wife, Cameron Kennedy, child support. Kennedy was seeking $22,000 a month for the couple's two children, a 14-year-old girl and 12-year-old boy. The court stated in a ruling that it would not be in the children's best interest to establish anything that would cause the parents to interact.

Common money mistakes in divorce

For New York individuals who are thinking about filing for divorce, the prospect of dealing with asset division may be daunting. Some people want to just get through the process quickly, and others set specific goals for what they want, which might include a set amount of money or sentimental objects. In many cases, one spouse opts to keep the couple's former home. While vying to keep the house is understandable, many financial experts say that it is usually better to sell the house and split the profit between the both parties. This is because the future value of the home is difficult to estimate, and maintenance costs might decrease the property's value to the owner.

NBA player files for child custody

New York basketball fans may be interested to hear that Indiana Pacer player Paul George has taken legal steps to gain sole custody of his two-month-old daughter. A prenatal paternity test showed that George is most likely the father of the child, but he has agreed to take another test to prove his paternity. If he is the father of the baby, he wishes to take care of the child without sharing parental responsibilities with the mother.

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