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Husband moves art collection in high asset divorce

In many cases, happily married spouses in Texas and elsewhere are completely unaware that their partner does not share the same level of contentment within the marriage. An example is found in the recently filed divorce between very wealthy spouses. According to reports, the wife thought that she was happily married, even as her husband sought to have divorce papers written up and served.

Making matters even worse, the wife claims that her husband moved the couple's valuable art collection from their Fifth Avenue apartment and placed the paintings into a storage facility in Queens. This move took place while the wife was in Europe, and the husband filed the divorce in Monaco. The venue could be changed, however, as the wife has argued that Monaco is not the proper jurisdiction since the couple has never resided there.

The husband has earned his fortune by way of his company, a security firm that manufactures the ink used to print currency in various nations. The value of the art collection is estimated at nearly $25 million. One of the paintings, a one-of-a-kind work by Jean-Michel Basquiat, has already been placed for auction at Christie's. The wife has asked a court to stop that and any other sale of the artwork until the divorce is finalized.

As this matter moves forward, additional details may be made available about the high asset divorce. The couple had no prenuptial agreement in place when they wed, and there may be a lengthy battle concerning where the divorce should be heard. For couples in Texas who have amassed considerable assets, there may be a number of lessons to be found in this high-profile example.   

Source: New York Post, ""Happily married" socialite stunned by surprise divorce", Julia Marsh, Nov. 9, 2015

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