New York Divorce Settlement May Be Set Aside- Mutual Mistake that Money "Invested" With Madoff


I previously wrote about a lawyer who was attempting to re-open his divorce settlement because, he claimed, there was a mutual mistake - he retained money invested with Madoff in lieu of other assets retained by his wife. Of course, the assets invested with Madoff proved to be worthless.

At that time, I opined (and the trial court agreed) that divorce settlement should not be opened. I wrote:

Had the wife participated with Madoff in the fraud or had knowledge of the wrongdoing, the husband might have a case. But, the husband simply made an unfortunate choice and, through no fault of the wife, lost his investment.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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