Alabama readers may be aware of the divorce proceedings involving David Dunkel, the CEO of Kforce. After the divorce judgment was entered in another state, Dunkel’s former wife filed a contempt of court motion against him, alleging that he intentionally defied court orders relating to the case. Reportedly, the issue involves a court-mandated transfer of stock holdings concerning Kforce, a company with an estimated worth of $1.2 billion. The transfers would make her one of the top shareholders in the company, though both parties have apparently raised issues in the aftermath of the divorce rulings that will be addressed in an upcoming hearing.
Apparently, the former husband transferred $8.2 million in stock to his former wife following a recent court order. She claims, however, that some $7 million worth of stock is still due her, prompting the contempt of court motion for willfully violating the court’s mandate. It is also claimed that the former wife is still owed more than $1 million in cash, apart from the stock holdings.
Should the court determine that Dunkel is in contempt, he could face various types of punishment, including jail time, monetary fines and/or being made to pay an additional monetary award to his former wife. The woman’s legal team seeks to ensure that Dunkel is held accountable for each of his court-ordered obligations. Transferring assets is typically an issue of property division and not usually enforced through contempt rulings, which are more common with regard to allegations of non-payment of child support or spousal maintenance.
Alabama residents who are in possession of property and/or assets of significant monetary value could face similar complications and frustrations when planning to navigate the legal system in divorce proceedings. It would most likely prove beneficial to seek the advice of a legal professional with experience in divorce cases. Typically, doing one’s best to organize finances concerning personal property and other assets, and proposing amicable agreements between spouses ahead of time, can help prevent discord and complications further down the line.
Source: bizjournals.com, “Contempt of court motion filed in David Dunkel divorce over millions in Kforce stock“, Alexis Muellner, March 27, 2015
