Divorce American Style: Wife Gets $184M

(AP)  An energy magnate's estranged wife has been awarded $184 million in what appears to be one of the biggest divorce verdicts in U.S. history.

Citing irreconcilible differences, Maya Polsky, a 55-year-old homemaker and art gallery owner, filed for divorce from her husband, Michael Polsky, in 2003.

Judge William Boyd had ruled in October that Maya Polsky was entitled to half of the Chicago couple's cash and assets, with her share valued at $176 million. On Monday, the judge amended his decision to include previously omitted assets that increased the value of her award to $184 million.

Maya Polsky's attorney, Howard Rosenfeld, said more than $170 million of the award is nontaxable cash. He said that in researching the case he could find nothing in which a homemaker wife received such a significant award.

"She's very much satisfied with the court's decision. She thinks she was fairly treated by the court," Rosenfeld said.

The couple married in 1975 in Kiev, Ukraine, then part of the Soviet Union. They arrived in the United States in 1976 with only four suitcases and $500 in cash, according to court records. In 1980, they moved from Detroit to Chicago, where Michael Polsky found success in the energy business.

Judges in Illinois have some leeway in determining how to split marital assets. Rosenfeld successfully argued that Maya Polsky was her 57-year-old husband's trusted confidant and therefore entitled to half of the estate.

"They would walk together after dinners, and Michael would share details of his work, looking for empathy, advice or merely an open ear," Rosenfeld wrote in court filings. "For many years, their marital partnership flourished. Michael provided sustenance and security, and Maya provided love, support, advice and counsel."

Michael Polsky's attorneys contended that he was responsible for the couple's great wealth and said they will likely appeal Monday's decision.

"He intends to test this decision on appeal because he's always believed that this shouldn't have been a 50-50 split," attorney Joseph Tighe said.

David Meyer, a law professor at the University of Illinois at Urbana-Champaign, said the Polsky case is "remarkable and historic" because of the size of the award and Boyd's decision to split the estate equally.

"Those are huge numbers," Meyer said. "When you get these cases of extraordinary wealth, it really puts to the test this notion of marriage as a complete partnership."

Gaetano Ferro, president of the American Academy of Matrimonial Lawyers, said he wasn't aware of a bigger award in the U.S.

Michael Polsky launched the company that eventually would become Northbrook-based SkyGen Energy, a leading independent power producer that sold in 2000 for about $450 million. He is now president and CEO of Invenergy Wind LLC, a Chicago-based wind energy company.

[sjw1253]

If you think about pre-nuptual agreements - they have to do with premarital assets.

As the couple had $500 when they arrived in the U.S. - the wife is clearly justly deserving of the 50-50 split. It does not matter who is "working" or who is making what in a marriage...

The assets earned during a marriage (unless of course they keep their own income and expenses separate) should be equal. The idea is that when you marry - it is supposed to be "for better or worse - richer or poorer" - when you decide you don't want to be partners any longer - then it is only right that you split the assets acquired during the marriage ... 50 - 50.

If you want to do this in a business manner - then skip the wedding and just put together a formal business partnership agreement - and keep the books as you would in a business...

[sandy19731]

My guess is that he will be re-married within three years, a testament to his belief in his need for a wife.

[patsy2007-2009]

bobgee_1999

And America here we have the idiot of the day.

Thanks for your opinion but no thanks.

[bobgee_1999]

patsy2007: You should definitely not have children, whether married or not, if your spelling reflects your mentality. You should probably also try not to have opinions, or at least not voice them.

[tscm98]

You don't get married because you are afraid of being cheated on and having to give away 1/2 your money? Pretty cynical, I think you have made the correct choice. And, by the way, most people don't believe that having children is ruining their life...

I wonder what all of you would say if the women had been working and the man had stayed home. I'm sure you would think it was great. The point is that it is immaterial how much money it is. You don't know her contribution to the marriage. Obviously the judge believed it was significant.

Finally, what if she chose to volunteer a lot of her time, due to the fact that they had enough money and she did not have to earn more? Maybe his reputation and moneymaking ability was increased because of her good works? Would that make a difference? I find it disconcerting that people value a spouse so little. Don't you think that husbands/wives have a significan impact on daily life, including work productivity and decision making?

[animalfarm2]

Patsy2007...Being a spouse for 30 years...grants you HALF. And if that half is 184million..more power to you.

[patsy2007-2009]

jimkum-
I'm a women and me I will not marry for the same reason as a man..afraid of having to be cheaten on and then having to split everything you owen even if I bought it.
And a women should not make any sacrifices...you know if you marry one day you will get pregnant and have babies and ruine your carrier. Nobody told you to have them and do it, that's one thing you could have said when you married or even before "Look I do not want to ruine my life, my carrier or my body so I do not want any kids" being a homemaker is not bad but also not good. And yes I also agree with most of these people she should not get as much, being a homemaker does not grant you 184M.

[bequialife]

no one is worth that kind of money

[koolkinkajou-2009]

Hookers are a lot cheaper!

[koolkinkajou-2009]

Hookers are a lot cheaper!