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Breaking: Person Tries To Hide Assets From Estranged Spouse In Divorce Court

Highland Capital CEO James Dondero knows what we’re talking about.

Highland Capital Management LP Chief Executive Officer James Dondero testified in a divorce proceeding that he’s insolvent under Texas family law, if not according to normal accounting rules. Dondero, 49, told Texas state court Judge David Lopez in Dallas yesterday that the 2008 financial crisis took his debt- investing firm “to a state of insolvency and we’ve been juggling liquidity since that.” Highland Capital assets under management fell to $23 billion by Jan. 1 from $39 billion at the end of 2007. “The last three, four years have been negative to the tune of hundreds of millions of dollars,” Dondero said. The money manager said his annual income is “a million, two.”

[…]

Highland Capital Management LP Chief Executive Officer James Dondero testified in a divorce proceeding that he’s insolvent under Texas family law, if not according to normal accounting rules. Dondero, 49, told Texas state court Judge David Lopez in Dallas yesterday that the 2008 financial crisis took his debt- investing firm “to a state of insolvency and we’ve been juggling liquidity since that.” Highland Capital assets under management fell to $23 billion by Jan. 1 from $39 billion at the end of 2007. “The last three, four years have been negative to the tune of hundreds of millions of dollars,” Dondero said. The money manager said his annual income is “a million, two.”

Highland Capital Chief Tells Divorce Judge He’s Insolvent [Bloomberg]

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45 Responses to “Breaking: Person Tries To Hide Assets From Estranged Spouse In Divorce Court”

  1. Mark says:

    Lesson to be learned here. NEVER GET MARRIED!

  2. Brady Dougan says:

    Wait, I can use my firm's financial performance to offset some alimony payments? Genius!

  3. LiteBrite says:

    OHH the huge manatee!!

  4. The Jerk says:

    Just this ashtray. And this paddle game, the ashtray and the paddle game and that's all I need. And this remote control. The ashtray, the paddle game, and the remote control, and that's all I need. And these matches. The ashtray, and these matches, and the remote control and the paddle ball. And this lamp. The ashtray, this paddle game and the remote control and the lamp and that's all I need. And that's all I need too. I don't need one other thing, not one – I need this. The paddle game, and the chair, and the remote control, and the matches, for sure. And this. And that's all I need. The ashtray, the remote control, the paddle game, this magazine and the chair.

  5. guy from St. Elmo's says:

    NO SPRINGSTEEN is leaving this house

  6. Seer says:

    I see what you hid there…

    Guy who used to build CDOs a few years back.

  7. Sean says:

    So good had to say it twice

  8. TSS says:

    Bloomberg's profile of him made him sound like he is a super successful guy.
    He could always sell his giraffe rug to raise some cash….

  9. Guest says:

    Call in Gloria ALRED bro-

  10. how do i join? says:

    Is this the same Highland Capital that keeps posting job ads on db for “people who are serious about relocating to Texas”?

  11. Concrete Truth says:

    None of you man-haters are asking the reason for why Mr. Dondero is not willing to settle quietly, give Lovely Becky her pittance payment & be done with her? Why? Why go through all this, really?!!!

    Answer: A wife violated her prenuptial so many times, and in such wild abandon that you can't see straight, but are still paying her massive fun-time hotel, bar and crazy underwear bills from last summer.

    Curious about her two little daughters???! They were abandoned for over a month. Mom, really?

    Back off you Jim-haters
    There is a LOT more to this than you casual money people know. Jeez.

  12. Ex-Dallas Person says:

    I heard this guy one time got engaged to an employee of highland in order to get her to quit so he could break up with her an not face any potential sexual harassment issues for sleeping with an employee.

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  30. JailforJim says:

    Did Dondero have to sell the Tahoe cabin? The Pamco accounts in the Caymans are empty? Poor Jim. Hope he stored some giraffe jerky to suck on.

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