MARYLOUISE S. BLACK, JUDGE.
The parties were married on June 23, 1998 in Telluride, Colorado. There is one child issue of the marriage, Quincy Morgan born October 4, 2000. Neither party has been a recipient of state or municipal financial assistance. The marriage has broken down irretrievably with no hope of reconciliation. Judgment of Dissolution enters on the grounds of irretrievable breakdown.
The Parties
Mr. Morgan was born on September 17, 1930 and was educated at Groton and Yale. He is the chairman of Morgan, Joseph Company an investment firm in New York City. He has worked in this capacity since 1956 and continues to work each day. He enjoys good health. His financial affidavit lists assets in excess of fifty-nine million dollars ($59,000,000) and liabilities (interest on margin debt) of eight million five hundred thousand dollars ($8,500,000). Sonja Tremont Morgan was born on November 25, 1963 and earned a BA degree in marketing from FIT in 1985. She has not been employed during the course of the marriage. She is in good health. Her financial affidavit lists assets of sixteen million five hundred eighty-two thousand eight hundred sixty-seven dollars ($16,582,867.87) and liabilities of one hundred sixteen thousand eight hundred fifty-six dollars ($116,856).
1. The Prenuptial Agreement and the Postnuntial Agreement
The parties signed an antenuptial agreement on June 23, 1998. (Ex. A.) On August 6, 2000 the parties executed a postnuptial agreement modifying the antenuptial. (Ex. B.) The court finds both the antenuptial agreement as well as the postnuptial agreement to be valid and enforceable. Therefore, the property is to be divided pursuant to the postnuptial agreement as follows:
CT Page 5999 To the wife;
1. Her interest in STAM, LLC;
2. Her interest in STAM Colorado, LLC, subject to repayment of the $3,500,000 owed by the wife to corporation; (security agreement);
3. Her interest in SCI STAM; subject to the outcome of pending litigation in France;
4. Her interest in the Credit Forcier de Monaco account; subject to the outcome of the pending litigation in France;
5. The automobiles listed on her financial affidavit;
6. Chase Savings account in her name;
7. Citibank Savings account in her name;
8. STAM LLC Checking account (JP Morgan);
9. Papamarkon Company account in her name;
10. Catillon World;
11. The Strauss Group;
12. Interest in Sonja Productions, LLC;
13. Interest in Sonja II, LLC;
14. Key Hedge Fund, LLC;
15. Her jewelry;
16. Her furs; and
17. A lump sum payment from the husband ($3,000,000)
To the husband:
1. Real property located at Taylor Hill Road, Bondville, CT and its contents;
2. The automobiles listed on his financial affidavit; CT Page 6000
3. His interest in STAM Colorado, LLC subject to the wife's repayment of $3,500,000 to the corporation (Security Agreement);
4. His interest in SCI STAM; subject to the outcome of pending litigation in France;
5. His interest in the Credit Forcier de Monaco account; subject to the outcome of pending litigation in France;
6. Morgan (2000) Partners, Caritas Investment, LP;
7. His interest (5%) in Morgan Joseph Company, Inc.;
8. His interest in Bay Marshall Islands;
9. West Coast Geothermal;
10. Long Point Capital, Inc.;
11. Key Hedge Fund;
12. TGM Associates, L.P.,
13. JP Morgan checking account in his name;
14. Societe General checking account in his name;
15. Coutts Company checking account in his name;
16. Evion 2002 Ltd. Partnership;
17. 101,000 shares of Scbroeders stock
18. Swiss bank account;
19. Artisan International Value IRA;
20. Horizon Asset Management IRA;
21. Papamarkou IRA
22. Bay Associates; and
23. Jewelry, furnishings, artwork and antiques; CT Page 6001
2. The SCI STAM property in Ramatuelle, France
The court finds that this property was a gift from the husband to the wife. (Testimony defendant, Ex. 3, 4, 7 and D.) The court enters orders that the husband place the value of wife's 99% interest in the property in an interest-bearing account until such time as the lawsuit in France concerning the property is resolved. The wife shall be entitled to the interest on the escrow account, payable to her monthly. In the event the lawsuit in France is resolved, either by agreement or litigation that is a final judgment, so that the husband is found to be entitled to SCI STAM and the real property located in Ramatuelle, France, then the escrow account shall be immediately payable to the wife and she will own the same free and clear of any claim by the husband. In the event the lawsuit is resolved, either by agreement or litigation that is a final judgment, so that the wife is found to be entitled to her 99% share in SCI STAM and the real property located in Ramatuelle, France, then the husband shall be entitled to the escrow proceeds, free and clear of any claim by the wife.
The court further orders that the property in France be appraised and reserves jurisdiction until said appraisal is submitted to the court.
3. Alimony
Neither party shall receive alimony from the other and each hereby waives any claim to alimony in the future.
4. Alimony and Support Arrearages Due
Under the postnuptial agreement, the husband was to pay the wife $15,000.00 per month in alimony, and $12,500.00 a month in child support, commencing the first of the month after the dissolution action was filed. The total payments over the seventeen-month period would be $467,500.00. Towards that sum, the husband has only paid $165,000.00 and, therefore, owes the wife $302,500.00. This sum shall accrue with statutory interest from the date the monthly payments were due.
5. Child Support
The husband shall pay to the wife child support of $12,500.00 per month, which shall be increased annually by 70% of the increase in the rate of inflation for urban consumers applicable to the New York-Northern New Jersey-Long Island Metropolitan Area by the Bureau of Labor Statistics. CT Page 6002
The husband's obligation with respect to the child shall end when the child attains age twenty-five (25) attains a four-year college degree, lives permanently away from the wife, dies, marries, enters military service, or becomes employed full-time.
The payments provided to the wife from the husband are provided for the following purposes, but are not limited to the following:
A. Private schools and college education expenses including tuition, room and board, through attainment of four (4) year undergraduate degree and such other fees and expenses as specified by the relevant institution for the then current academic year(s);
B. Summer camp at a camp mutually agreed to by the parties, or if the child does not desire to attend a summer camp, an equivalent or substitute activity agreed to by the parties, such agreement shall not be unreasonably withheld;
C. Tutorial services, including equestrian training;
D. Medical (including psychological) and dental expenses provided the husband is to maintain health insurance for the child. The husband shall cooperate with the wife to obtain COBRA insurance coverage for the wife at her expense.
6. Liabilities
Each party is responsible for the liabilities listed on their respective financial affidavits.
7. Counsel Fees
Each party is responsible for their own attorneys fees.
SO ORDERED
CT Page 6003