Thursday, July 27, 2017

Scorned, Longtime Wife Succeeds In 3-Year Legal Battle To Void Gift Of $1.8 Million House, Plus Cars & Cash Given By Billionaire Bad-Boy Hubby To His Now-Ex-Mistress; California Appeals Court Says Assets Constituted Community Property That Could Not Be Conveyed Without Wife's OK

In Los Angeles, California, The Real Deal (Los Angeles) reports:
  • Hell hath no fury like a woman scorned — especially if the woman is the longtime wife of a billionaire real estate investor.

    After a three-year legal battle, Shelly Sterling, the wife of former Los Angeles Clippers owner Donald Sterling, succeeded in reclaiming $2.6 million worth of gifts that her husband gave to a former mistress.

    A California appeals court ruled Thursday [July 20]  that the gifts — which include a $1.8 million house, $400,000 worth of cars, and $400,000 in cash — are part of the community assets of the Sterling marriage and that they were bestowed upon the mistress without Shelly’s permission, Law360 reported.

    After a falling out with Donald, his ex-mistress, V. Stiviano, released recordings of Donald making racist comments. The backlash led to Donald’s ban from the NBA, and he was forced to sell the Clippers and pay a $2.5 million fine.

    Shelly and Donald were headed for divorce, but called it off in March 2016.

    Shelly’s attorney Pierce O’Donnell told Law360 the case will help other women in similar situations.

    I hope [Stiviano] slinks back into the shadows from which she came,” he said.

    Donald is worth an estimated $3.5 billion, with significant multifamily holdings on the Westside and Koreatown, as well as the Beverly Hills Plaza Hotel.

    Shelly isn’t the only wife scorned by a powerful real estate figure. Linda Macklowe, New York developer Harry Macklowe’s wife of 57 years, is challenging him to make good on his promise of a $1 billion divorce settlement.
Source: Donald Sterling’s wife prevails over mogul’s ex-squeeze, who must return $1.8M pad (Appeals court ruled Thursday in favor of Shelly Sterling).

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