Hulk Hogan's breach of contract lawsuit against ex-wife thrown out of court
By Kluger Kaplan March 16, 2012
A lawsuit filed by Hulk Hogan against his ex-wife claiming that as his business manager, she did not obtain enough insurance coverage to protect his family’s assets was thrown out of court. Read the rest of the Fox News story here.
By Hollie McKay
Terry “Hulk Hogan” Bollea and wife Linda called it quits in 2007, yet the two have continued to battle it out in court over a number of issues.
Now Linda Bollea’s attorney tells Fox411 that his client just scored a major victory.
“We just won a final judgment against Hulk Hogan in his claims that Linda Hogan breached her fiduciary duties as his wife and business manager because he claimed she did not obtain enough insurance coverage to cover Nick’s accident,” Linda’s Florida-based attorney, Raymond Rafool, told Fox411’s Pop Tarts column on Wednesday.
Last year the wrestling champ filed a lawsuit Pinellas County Court, Florida claiming that the Wells Fargo branch he frequented should have advised him that he needed an advanced level of insurance to protect his assets. Hogan revised the suit to also name his ex-wife as a defendant, alleging that as his business manager at the time, she should have “adequately protected” the family’s assets and that she has a “fiduciary duty under Florida law” to educate herself on potential liabilities.
The suit was in relation to his son Nick Hogan’s 2007 accident, in which he crashed one of Hogan’s cars, leaving passenger John Graziano in a vegetative state. The Graziano family later sued Hogan for negligence and direct liability, and although the terms and finances of Hogan’s settlement with the Graziano family were not disclosed, his automobile insurance was limited at $250,000 per injured person.
Hulk claimed that the excess settlement money paid out-of-pocket was a result of the other parties not fulfilling their duties adequately.
Rafool claimed that Hulk was seeking millions from Linda, but the judge granted their request to have the case against her dismissed. We’re told the judge recognized and accepted that the marital settlement agreement signed by Hulk during divorce proceedings clearly released Linda from any associated liabilities.
“The parties’ Confidential Marital Settlement Agreement (CMSA), dated July 29, 2009 and the release provided is clear and unambiguous,” reads the Final Judgment Summary. “The Court does not know how the releases in the CMSA and the Graziano Related Settlement Agreement and Release could be any more comprehensive than they were.”
Read the rest of the story here.