Manhattan partner Lara Trafelet sue the accounting firm for & # 039; outrageous & # 039; Divorce costs of $ 75,000 per week

A high society person from Manhattan ordered the accountants to squeeze everything they could from their separated husband and then they opposed the fee.

Lara Schmidt Trafelet is engaged in a bitter divorce battle with high-risk fund manager Remy White Trafelet, 48, for her $ 200 million fortune.

The enraged wife instructed the forensic accountants of Cipolla & Co to "kick him between his legs and throw him to his knees" Last July

But the 49-year-old man was appalled by the "scandalous" bill of $ 75,000 per week for a total of $ 4.2 million and sued the company on the grounds that it was excessive.

Lara Schmidt Trafelet (left) is engaged in a bitter divorce battle with hedge fund manager Remy White Trafelet, 48, (center) for her $ 200 million fortune

Lara Schmidt Trafelet (left) is engaged in a bitter divorce battle with hedge fund manager Remy White Trafelet, 48, (center) for her $ 200 million fortune

Lara Schmidt Trafelet (left) is engaged in a bitter divorce battle with hedge fund manager Remy White Trafelet, 48, (center) for her $ 200 million fortune

Cipolla & Co argued that the couple's finances were so complicated and their expense so extravagant that it took a team to work around the clock to untangle them.

The firm even installed a & # 39; war room & # 39; Dedicated in their offices after she told them to "adopt the most aggressive stance possible no matter what the cost", according to the NY Post.

Cipolla & Co requires you to pay $ 2.7 million in fees that you have refused to deliver since receiving the invoice, and your action was only to avoid your financial obligation.

Ms. Trafelet stated that she could not pay the fees as the "unmarried wife, unemployed in a fiercely contested divorce action".

Accountants endeavored to make sense of Mr. Trafelet's complex multifaceted network of business entities and the couple's luxury lifestyle.

"Trafelet's marital lifestyle was opulent with an annual expense of more than $ 16.2 million," said Cipolla attorney David Mair at an arbitration hearing.

He said they had to analyze $ 600 million in transactions from 13 bank accounts in the course of the 18-year marriage to get the best deal for Ms. Trafelet.

The couple owns six properties, including a $ 15 million apartment on Park Avenue and a $ 10 million summer home in Glen Head, Long Island.

They also have a grouse hunting farm in Scotland and a quail farm in Georgia.

Trafelet made his fortune managing the Trafalet & Company hedge fund, valued at $ 5,800 million at its peak in 2006.

Trafelet made his fortune managing the Trafalet & Company hedge fund, valued at $ 5,800 million at its peak in 2006.

But now the two are locked in a bitter divorce that includes the battle for their three children (pictured)

But now the two are locked in a bitter divorce that includes the battle for their three children (pictured)

Trafelet made his fortune managing the Trafalet & Company hedge fund, with a value of $ 5.8bn at its peak in 2006. But now the two are locked in a bitter divorce that includes the battle for their three children (pictured)

Other luxuries that the couple enjoyed included a personal trainer, a chauffeur, an assistant and a private chef who all came out of Mr. Trafelet's earnings.

There was also a private jet for ultra luxury vacations that cost up to $ 400,000 in a single year, "Mair said.

The company stated that its hard work was worth it and that the huge fees were well earned, as it increased its provisional alimony from $ 17,000 to $ 45,000 per month.

Ms. Trafelet wants the dispute to be decided by her divorce judge and is trying to get the arbitration proceedings suspended, even though the appeals court has already confirmed the fees.

"Our legal documents speak for themselves and this issue will finally be decided in court," the lawyers said.

Ms. Trafelet resisted the bill despite having won a $ 4.1 million war chest from her ex-husband to pay the legal fees in the battle for divorce.

The impressive amount consists of an initial prize of $ 600,000 followed by a second of $ 3.5 million, which is believed to be the largest professional rate ever awarded in a marriage case in the state of New York.

New York's divorce law allows courts to order the wealthiest spouse to pay their partner's lawyers and experts to make the legal process a fair fight.

So far, the largest amount awarded in professional fees was less than $ 1 million.

Trafelet, 48, made his fortune managing a hedge fund, Trafelet & Company, with a value of $ 5.8bn at its peak in 2006.

He enjoyed vacation with his wife and children in the multi-millionaire play area of ​​Fisher Island and excelled in the social scene of Manhattan.

Now that the couple has separated, Ms. Trafalet lives in the marital home on Park Avenue, while her husband stays in one of his other homes, said Ms. Trafalet's attorney, Laurie McPherson.

He claimed that Mr. Trafalet was "angry and litigious" and that the divorce was as "difficult" as he could.

The lawyer told DailyMail.com that the couple's three children spend most of their time with their mother, although they too have been the subject of the costly legal battle.

"In our point of view, the husband is incredibly angry and litigious, and is following a real tactic of scorched earth," said McPherson.

& # 39; Has pressed our client in any way he can, and that puts undue pressure on her. And it has spawned a lot of litigation and many fees. The rates have far exceeded the prizes, I can tell you.

The New York money man and his high society wife own a $ 7.4 million luxury apartment on Park Avenue, one of the most attractive streets in New York City

The New York money man and his high society wife own a $ 7.4 million luxury apartment on Park Avenue, one of the most attractive streets in New York City

The New York money man and his high society wife own a $ 7.4 million luxury apartment on Park Avenue, one of the most attractive streets in New York City

"From our point of view, the husband has made this much more difficult than it should be, and there is no sign of stopping, he seems to be looking for every opportunity, apparently, to force more litigation.

She added: "The property is worth hundreds of millions, more than 200. It is a great case, there are many pieces in motion, there are many assets on the table."

At the height of his company's success, Trafelet squandered company money on his staff, treating about 100 of his employees on a luxurious weekend at a five-star hotel in Venice with Murano glass chandeliers and a view of the basilica of the seventeenth century.

Although the financial crisis of 2008 halved the value of Trafelet & Company, it is believed that its fund generated hundreds of millions of dollars, and after several years of inactivity, it reopened its doors to new investors in 2014.

The Trafelets were married in 2000 in Ohio. At that time, his wife was working as sales director for Circline Inc., a company that sells art and antiques online.

Mr. Trafelet now works as the CEO of Florida's citrus giant, Alico, a job that generates a base salary of $ 400,000 and 300,000 stock options, according to the Stock Exchange and Securities Commission's archives. from United States.

In his ruling last month, Judge Frank P Nervo also noted that a $ 150 million trust & # 39; It was part of the assets in dispute in the divorce.

A 2017 ruling on the aspects of the divorce case said the trust contained "40 percent of the husband's business interests", including & # 39; conjugal property, and their assets were appreciated during the marriage in line with the successful growth of the husband's business.

Judge Nervo granted the additional advance of $ 3.5 million last month after Ms. Trafelet highlighted the huge costs involved in eliminating the network of companies, real estate businesses and trusts owned or managed by her husband.

The couple also owns a $ 4.8 million colonial-style property in the exclusive Glen Head, Long Island

The couple also owns a $ 4.8 million colonial-style property in the exclusive Glen Head, Long Island

The couple also owns a $ 4.8 million colonial-style property in the exclusive Glen Head, Long Island

A legal source close to the case said that granting "provisional" rates for Ms. Trafelet means that if the money runs out, she can ask the court to award even more cash for professional fees.

"The court in this case acknowledged that the litigation of burned and very important lands should be financed equally if not more," the source said.

The source revealed that in this case Mrs. Trafelet will probably spend more than the husband in legal fees, because the husband has created a financial network of hedge funds, different companies and associations, LLC and different agreements of real estate and licenses between homes .

"The wife had no idea, so she needs to hire a forensic accountant, who then must go through ten years of finances, and that is really expensive," the source added.

"The award of interim fees is an innovative decision, everyone in the marriage bar is talking about that, even the judges are talking about that."

McPherson of The McPherson Firm is Ms. Trafelet's third lawyer.

His previous attorney who filed the petition requesting $ 3.5 million fees, Stuart Slotnick of Buchanan Ingersoll & Rooney, said such fees are granted to prevent one of the parties from "intimidating" him. to another.

"Divorce is a very emotional process and in high net worth divorces the parties have the resources to protect their interests because they have access to important funds," said Slotnick.

"The law protects unfertile spouses from being intimidated by their future ex-spouse, when that person has all the money.

"Courts want to ensure that unmarried parties have ample resources to fight on an equal footing."

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