Posted On: December 29, 2012 by Stephen Bilkis

Wife Claims She Owns Half of Husband's Stock Proceeds

This case is being heard in the Supreme Court of the State of New York located in Westchester County. Jose and Nerieda Rodriguez as the administrators of the estate of the deceased Janette Carlucci and Candice Carlucci are the plaintiffs in this case. The defendant in the case is Iren Sepe. A New York Family Lawyer said the plaintiff have motioned for a declaration stating that they are entitled to 100% of the shares of stock of the Very Best IRTJ Corporation that is owned by Robert Sepe. The defendant’s have made a cross motion seeking a declaration that she has a superior right to half of the proceeds of the sale of the stock of the Very Best IRTJ Corporation.

Case Background

The defendant, Irene Sepe and her ex-husband Robert Sepe were divorced on the 16th of July, 2007. A stipulation of settlement was entered as part of the divorce. In this settlement Robert Sepe acknowledged that he was the sole owner of The Very Best IRTJ Corporation. The principal asset of the company is a commercial building that is located on Yorktown Road in Croton-on-Hudson. A New York Custody Lawyer said the stipulation of the divorce settlement states:

The husband warrants and represents that he is the owner of 100% of the outstanding shares of stock of the company the Verity Best IRTJ Corp and the parties agree that if and when the shares are sold by the husband unless the proceeds are to be used to purchase another commercial property the net proceeds from the sale after payment of taxes, closing costs, and other fees regarding the sale, will be divided equally among the two parties. If the property is sold and the proceeds are used to purchase a new property within two years of the date of the sale, the wife will not be entitled to receive a portion of the stock proceeds from the sale of such stock and the terms will apply to the new property. If the husband passes away and still owns the stock in the said corporation the husband agrees that the estate will transfer the shares of stock to their children in his last will and testament.

On the 22nd of March in 2008, Robert Sepe killed his girlfriend Janette Carlucci and was sentenced to 25 years to life for the murder.

A Bronx Family Lawyer said that on the 17th of October, the plaintiff’s, who are the heirs of Janette Carlucci took action against Robert Sepe seeking damages for the wrongful death of Janette Carlucci. The plaintiff’s were granted a partial summary judgment by this court on the issue of liability against Robert Sepe.

Irene Sepe began her own action against Robert Sepe on the 20th of October, 2009. Her action requested that the equitable distribution payments be accelerated. Robert Sepe agreed that he owed Irene $336,625,000. This did not include child support, college expenses, and maintenance.

Case Discussion and Decision

The plaintiff’s began this action against Irene Sepe seeking a declaration that they have the superior right to the Very Best IRTJ corporation interest owned by Robert Sepe. The company is estimated to have a worth of over $2.68 million.

A Bronx Custody Lawyer said the court has reviewed the divorce judgment and the other issues involved in this case. It is found that according to the stipulation in the divorce decree, Irene Sepe has the right to one half interest in the net proceeds of the sale of the shares of the Very Best IRTJ Corp. The plaintiff’s motion is denied and the defendants cross motion is granted.
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