In what seems like the case that will never end, multimillionare businessman Richard Stephenson, the founder and CEO of the Cancer Centers of America, and his ex-wife (as a result of a bifurcated divorce in January of 2016) Alicia Stephenson, are back in court for trial on the division of their marital assets and setting of maintenance. The couple were married in 1991 when Alicia was only 26 and Richard was 51. Alicia filed for divorce in 2009.
Alicia initially tried to invalidate the prenuptial agreement but a Judge upheld its validity. The parties then fought for custody of their only daughter who was a child at the time of the initial proceedings and is now an adult. After several interlocutory appeals in this matter, one regarding the disqualification of Alicia’s attorney, the couple were officially divorced seven years after the filing of the divorce pursuant to a bifurcated judgment.
The Will county judge must now decide how to divide the parties’ substantial marital assets. Pursuant to an affidavit filed by Alicia Stephenson, the parties jointly own three vacation homes, a wedding gown, a copper pot collection, Baccarat glassware and Versace dishes, a Robert Guenther bowl, plus a Porsche 911, Mercedes S600 and two Harley-Davidson motorcycles. In addition, there will be significant maintenance issues at play. Alicia made more than $200,000 working at the Cancer Centers in 2009, yet claims she needs in excess of $150,000 a month to maintain her lifestyle. The judge found her needs were $47,000 a month.
This divorce almost landed Richard in jail and Richard was investigated by the FEC regarding a claim that he funneled $12 million dollars worth of campaign contributions through two corporations which Alicia argued was improper. After a thorough investigation, the FEC voted that Richard was not at fault as the law was unclear.
The case was recently up on a Motion in Limine by Richard’s attorneys to limit or dismiss some of Alicia’s claims to this fortune. The Judge denied Richard’s motion, which allows Alicia to introduce more evidence regarding her legal claims. Clearly both parties have the money to spend to litigate. Hopefully the Judge will be able to resolve the outstanding issues and put the parties’ litigious history to rest.