During divorce proceedings in New York, it is absolutely important to understand agreements to the smallest details and abide by them absolutely, especially where there may be contention between parties. No one expects a client to be able to understand all of the intricacies, which is why we have attorneys to help “dot the i’s and cross the t’s.”
Siohvaughn Wade believes that her ex, Dwayne Wade and his team failed to follow the letter of the law when it comes to a divorce agreement made between the parties. Whether intentional or inadvertent, she says that the failure to follow the rules amounts to hiding or diverting marital assets.
The basis for the dispute is an Agreed Preliminary Injunction (API) that the parties entered into in 2008, shortly after Dwayne Wade filed for divorce. As an extremely well-known NBA athlete, Dwayne has a number of endorsement deals that consistently provide a large amount of income.
For Dwaye Wade, these endorsement deals include some large players in the marketing world. Gatorade Co., T-Mobile USA Inc., Lining LLC and Staples Office Superstore LLC fall under the API requirement to directly deposit the income into a joint account specifically designated for these funds.
The issue was the the funds were being deposited into Dwayne Wade’s account and then transferred into the joint account. According to the complaint filed by Siohvaughn, the companies were either specifically directed to do this or were not given any direction as to the API.
Funds falling into the sole account first means that there is the possibility that some are being diverted or hidden in the process, says the breach of contract complaint.
Source: Courthouse News Service, “Dwayne Wade’s Ex Has Eye on Gatorade Money,” Kevin Koeninger, July 10, 2013