radio Archives - Cordell & Cordell

Joseph Cordell Breaks Down McCourt Divorce On Sporting News Radio

Sporting News Radio turned to Cordell & Cordell co-founder Joseph Cordell to sift through the legalese of what could turn out to be the costliest divorce settlement in the history of California – the divorce between Los Angeles Dodgers owners Frank and Jamie McCourt.

The reported divorce settlement would give Frank control of the Dodgers again, but at a cost of more than $130 million to be given to Jamie. A four-day hearing before a Delaware bankruptcy judge that is scheduled to start on Oct. 31 will have a tremendous impact on the ownership of the team and the highly valuable TV rights, Cordell told Sporting News Radio.

“The most important decision at this hearing will be whether the $2-3 billion in television rights will be able to be sold at auction,” Cordell said. “If the court takes the position that the rights can be sold at auction, then Frank McCourt now has access to dollars that he never could have otherwise. Suddenly he has access to revenues he needs to not only present a case that he can run this franchise and make it successful, but he can also go ahead and pay off Jamie. If he loses on that point, he is sunk.”

Listen to the full audio of Cordell breaking down the complicated issues of divorce and bankruptcy.

The divorce lawyers for men at Cordell & Cordell practice in all areas of family law, including complex divorce and asset division. To schedule an appointment with a men’s divorce attorney, please call 1.866.DADS.LAW.

Dodgers Ownership Battle in Divorce

Cordell & Cordell co-founder Joseph Cordell appeared on Sporting News Radio with Steve Czaban to discuss the Los Angeles Dodgers situation between owner Frank McCourt and his wife, Jamie, who are locked in a bitter dispute regarding ownership of the Dodgers as part of their divorce proceedings.

Jamie is claiming partial ownership of the Dodgers in one of the largest asset division cases in the U.S. in recent years.

According to Cordell, what Frank McCourt is going through, albeit on a much grander scale, is something that is not foreign to a lot of guys going through divorce who own a small business – the husband owns the business and his wife is threatening to have it sold, interfere with its operations, etc.

“So these guys will scramble about trying to get liquidity and cash to ‘get rid of her,’ and often they will have to make decisions that are not in the best interests of their businesses or their real estate holdings,” Cordell said. “So they bring in a lot of debt that jeopardizes the business in the long run. Frank McCourt is living that same dilemma just in a very large, massive way.”

The McCourts had recently reached a settlement that would have allowed Frank McCourt to retain ownership of the team if Major League Baseball Commissioner Bud Selig had approved of a media transaction between the team and Fox television.

MLB rejected the Fox contract, thus forcing the Dodgers to file for Chapter 11 bankruptcy protection. Under the Chapter 11 filing, the salaries and benefits of Dodger employees will be paid and the team will operate within their existing budget to sign and acquire players.

“MLB has (Frank) cornered,” Cordell said. “His greatest hope is the bankruptcy court is going to set aside or at least ignore this constitutional provision in Major League Baseball that says MLB can automatically take the team and sell it in the event of a Chapter 11 filing.”

Cordell & Cordell has men’s divorce lawyers located nationwide who exclusively handle family law cases, including property division.

Fox News Talks Divorce With Joseph Cordell

Cordell & Cordell co-founder Joseph Cordell appeared on “The Tom Sullivan Show” on Fox News Radio to discuss family courts’ bias against men, custody battles and the use of alimony payments.

Here a few highlights from the interview:

Why he got involved in helping men and fathers in the family court system: “It’s an area that needs special attention. Historically, guys have faced an uphill climb. In many courts across America, guys have to expend additional effort, resources and ingenuity to come out with a fair result. So we decided to focus on serving one side of the table.

On child custody battles: “There’s the old joke that if you run into a bear in the woods with another hunter, you don’t have to outrun the bear – you just have to outrun the other hunter. And that’s kind of the situation in divorce courts when it comes to understanding custody battles. It’s really a matter of being the better option, not necessarily being the perfect parent.

“Keep in mind, in divorce court more than any other area of the law, judges have a huge amount of discretion so there’s a lot of opportunity for biases and particular preferences that we all as human beings have that come into play. Historically, it has not worked in the favor of dads.”

Paying spousal support to your ex-wife: “Legally, those funds are to be assigned to the child. Now we all know that if Mom gets $1,000 a month, she’s getting some benefit from that to the extent she pays for transportation, housing, food, etc. At the end of the day, Mom’s standard of living has increased while Dad’s has substantially decreased.”

To listen to the June 13 podcast, visit The Tom Sullivan Show podcast page. The interview begins around the 1 hour, 28 minute mark.

To arrange an appointment with a Cordell & Cordell divorce lawyer, please contact the Cordell & Cordell office nearest you.

Joseph Cordell’s advice on prenups

The single largest business transaction that most people will go through is their marriage vow, according to Joseph Cordell, principal partner of Cordell & Cordell.

So why do so few people enter into a marriage without a prenuptial agreement?

“They’ve never really gained a lot of momentum in our culture among those financially below the very upper echelon. Usually, first marriages involve young couples who don’t have a lot of assets or children so they feel a prenup is addressing something that is entirely speculative,” Cordell said while appearing on the radio show Dresser After Dark with Michael Ray Dresser. (Listen to the full interview.)

When you get married, you are essentially becoming business partners that encompasses not only all the assets you currently posses (though there are exceptions of course), but also including every single dollar you make going forward, according to Cordell.

“It’s a huge deal, and most people head into marriage without realizing it’s the gravest financial decision they will every make,” Cordell told Dresser.

Cordell appeared on the program to discuss his new book, “The 10 Stupidest Mistakes Men Make When Facing Divorce.” 500,000 men face divorce each year and most will make irreversible mistakes.

“This is an area in which men can least afford to make mistakes because they are in a court system that is set up against them,” Cordell said.

Click the link to listen to the full interview.

CNN: Economy Prolongs Some Marriage, Ends Others

Here’s what CNN had to say about Cordell & Cordell:

The Cordell & Cordell law firm, which bills itself as one of the largest divorce firms in the country, has been running radio ads suggesting people whose assets have tanked may want to consider divorce because they’ll lose less money to their partner, said Joseph Cordell, the firm’s principal partner.

Cordell said the advice is meant only for couples who are certain they want to divorce.

“For guys that know they’re going to end up getting divorced, they really need to realize that, oddly enough, it’s when they can least afford it that it can make the most sense,” he said.

Read the full article on divorcing in the recession.