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Diamond Merchant Ordered to Pay Ex-Wife $1.5 Million After Price Drop Claim Rejected
An Israeli diamond merchant was ordered by the Tel Aviv District Court to pay his ex-wife approximately 4.6 million shekels in a divorce settlement, rejecting his claim that falling diamond prices should reduce the amount.
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What happened
- 01A diamond merchant must pay his ex-wife approximately $1.5 million in a divorce settlement.
- 02The court rejected the merchant's claim that falling diamond prices should reduce his payment.
- 03The couple divorced after 31 years of marriage, with a separation date set for March 1, 2020.
- 04The settlement includes equalization payments and compensation for earning capacity disparity.
- 05The husband was also ordered to pay 50,000 shekels in legal costs.
- 06The court dismissed the merchant's claims regarding tax debt and alleged jewelry theft.
The court ruled that the husband, who managed the company, was solely responsible for any fluctuations in the diamond inventory's value after the separation date. The settlement includes equalization payments and compensation for earning capacity disparity, with the wife's appeal on the latter point being accepted. The merchant's other claims regarding tax debt and alleged jewelry theft were also dismissed.
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