Saturday, 23 August 2014
Last updated 20 hours ago
Apr 25 2013 | 10:10am ET
Steel Partners founder Warren Lichtenstein isn't thrilled about the huge child-support payments he's been ordered to make to the mother of his daughter. So he's suing her new boyfriend.
Lichtenstein filed suit against Andrew Cader in New York federal court, alleging that Cader, a former head of Goldman Sachs' Spear Leeds & Kellogg unit, helped his five-year-old daughter's mother, Annabelle Bond, win the HK$321,667 (US$41,000) monthly child support from a Hong Kong court. According to Lichtenstein, Cader has given Bond some $3.5 million in cash and pays the rent on her Hong Kong home as gifts over the past two years, but Bond claimed they were loans to win the child-support payments, which Lichtenstein said is the largest ever ordered in Hong Kong.
Lichtenstein's lawsuit, which seeks at least US$200,000, alleges that Bond and Cader had a "common objective to cause the Hong Kong court to order Mr. Lichtenstein to make payments that are greater than they would have been."
Lichtenstein describes his split with Bond, the daughter of former HSBC Chairman John Bond, in 2007 as amicable. But he alleged that she has been "spending millions of dollars of their money to support her lavish lifestyle."
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note