Ending more than 25 years of marriage can be a messy proposition unless both parties enter the process with an eye toward making things as simple as possible. That's what simple, uncontested divorce in Pennsylvania is intended to deliver. It may take some work to come to terms, but costs are more easily controlled. It also offers those involved the possibility of getting their lives moving forward much more quickly.
A less appealing alternative may be what is being experienced now by Hulk Hogan (real name Terry Bollea). He divorced his wife of more than 25 years back in 2009. The terms of the settlement weren't made public then. But details have now come out as the couple returns to court to wrangle.
It seems that Linda Bollea is demanding payment of 40 percent of 2010 gross revenues from the company that manages the Hulk Hogan trademark. The estimated amount being sought is $126,000.
A judge and an appeals court have ordered the money paid, but Terry Bollea is contesting the claim. He says that what his ex-wife is entitled by the divorce terms to collect only from net revenues, which would be less than what's been ordered.
This battle might seem rather petty in the overall scheme of things. The details of the divorce agreement, now public, show that when the couple split, she received more than $7 million of the couple's liquid assets. She collected an additional $1.6 million from the sale of some property. She also was granted ownership of a fleet of high-ticket cars.
The papers show that while he doesn't have to pay her alimony, he did agree to pay her an annual amount based on the revenues from the management company. Since that's going to be paid out for years to come, his attorney is seeking to get the court to clarify the parameters of payment. He argues that besides basing the payment order incorrectly on gross revenues rather than net, the courts shouldn't be in the mix at all. He says terms of the divorce say disputes are supposed to be handled through arbitration.
Source: Tampa Bay Times, "Ex-wife put Hulk Hogan against ropes in divorce settlement," Rita Farlow, Nov. 23, 2011
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