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Complexities in a looming high-asset divorce

About 10 months ago, Forbes magazine stated that "it still pays to be Bill Ackman." Some of our Nashville family law blog readers might not be familiar with Ackman. The billionaire hedge fund manager is known for high-profile controversies and clashes.

Last month, the manager of Pershing Square Capital reportedly separated from his wife of 22 years, Karen Ann Herskovitz. His wealth is estimated to be $1.6 billion; and the couple reportedly did not have a prenuptial agreement. Some observers expect that there will be significant property division disagreements be resolved in the course of their divorce.

Media reports indicate that Pershing Square has had something of a rollercoaster ride over the past couple of years. The firm had a banner 2014. Investments thrived and resultant large bonuses reportedly fattened the bottom lines of the company's executives.

But things have become leaner, with Forbes labeling 2015 as "catastrophic" for the firm, with enormous losses piling up as a gamble on Valeant Pharmaceuticals International failed to pay off as anticipated. Ackman and other investors sank substantial amounts into Valeant, only to see the Canadian firm become mired in scandal.

Forbes says Pershing's net assets value has plunged 40 percent.

What might the value be of Ackman's wife's eventual portion of their marital estate amount to? No one yet knows. But we do know that in Tennessee divorces involving complex assets, it is important to have at your side a Nashville family law attorney experienced in helping clients get proper distribution of both assets and debts.

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