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High Stakes in Tycoon's Divorce Proceeding, Civil Lawsuit

Dallas businessman Andy Beal has a lot of money.

He's probably going to need it. Details surfacing from a civil lawsuit filed recently by his wife, Simona, reveal that she is seeking $20 billion from him in a rancorous divorce proceeding. Although the documents related to that are currently under seal in a Dallas court, papers in the civil suit are a matter of public record.

What they highlight most centrally is the staggering amount of wealth at stake in the divorce proceeding and outcome. Forbes magazine estimates that Beal has about $6 billion in assets, but Simona's demand would suggest that he may have far more. His holdings include banks in various states, as well as substantial and diverse assets of other types.

Marital property division will undoubtedly feature prominently in the case. Andy Beal's attorney states that property disposition will proceed in accordance with the provisions of prenuptial and postnuptial agreements that the couple executed.

The Beals have been married for 14 year and have four children. In her lawsuit, Simona Beal makes various personal allegations against Andy Beal, and also states that one of his employees stole sensitive information from her home that is relevant to her claims.

Andy Beal uniformly calls those claims false, and says that he "will not succumb to blackmail or extortion."

Simona Beal seeks $5 billion in damages and an additional $15 billion in exemplary, or punitive, damages.

Related Resource: www.dallasnews.com "Dallas billionaire Andy Beal's divorce turns messy" December 10, 2010

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