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Daniel Rosenblum missed crucial line in divorce settlement

Daniel Rosenblum, an executive and millionaire from the East Coast, recently got some bad news. The divorce settlement that he reached with his ex-wife Sheila Rosenblum, a former ballerina and model, contained one important line that he failed to pay attention to -- the signature line. As would some California residents in similar circumstances, his ex-wife took advantage of his oversight and had the agreement set aside. Now, he owes her millions of dollars that he never thought he would be obligated to pay to her.

The couple was married for four years beginning in 1999. They then divorced and remarried approximately two years later. Their relationship ended once again in 2014. That is when they negotiated a settlement providing that Sheila would receive 12 annual payments totaling $5 million each. This was the agreement that Daniel failed to sign.

With that agreement set aside by the New York State Supreme Court, an agreement that the couple negotiated and fully executed in 2013 was ruled to be controlling. This agreement provided for an immediate $11 million payment to Sheila, along with $50 million more over the course of the next four years. Daniel intends to appeal the need for the $50 million dollars' worth of payments, but at this time, it is unknown whether he will be successful.

How he managed to miss signing the most recent agreement, which obviously had better terms for him, remains a mystery. However, it is certainly a cautionary tale for California residents who are involved in a divorce. Missing any detail regarding a successfully negotiated settlement could prove to be expensive.

Source: Vanity Fair, "Commodities Executive Who Forgot to Sign Divorce Papers Must Pay Ex $11 Million", Emily Jane Fox, April 11, 2016

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