Team Elaine Wynn has been dealt a setback in her post-divorce case against her ex husband Steve Wynn. Since their divorce in 2010, Elaine has been through a lot. She has fired a bunch of her former divorce lawyers and hired new ones who are on the verge of being sanctioned by the court for trying to use confidential & proprietary information about Wynn Casinos, which Ms Wynn had downloaded to her computer, to their advantage.
Elaine has been trying to dispose of about $1 billion worth of stock she owns in Wynn Casinos but apparently she is not contractually able to do so without her ex husband Steve Wynn’s permission. It is unclear why her previous lawyers allowed her to sign such a silly agreement. Why did she have to “get his permission”? This is stupid and should never have been agreed to in the first place. She needs to consider taking action against her former lawyers.
There is also a third party involved in the dispute between Elaine and Steve and it is their former business partner, a Japanese investor named Kazuo Okada. According to Bloomberg, Elaine “filed a separate claim in Wynn’s lawsuit against Okada to escape a shareholders agreement that was part of the couple’s divorce and that prevents her from selling her shares without her ex-husband’s permission.”
It seems the judge is getting fed up with Elaine and her lawyers, however, and is considering blocking Elaine’s lawyers from participating in the case altogether.
Okada’s lawyers have said in filed documents in the case that “recently, however, this collateral dispute between Ms. Wynn and her former husband has metastasized into a disruptive grudge match that threatens the district court’s efforts to efficiently manage and dispose of this case.”
But who can really blame Elaine for any of this? The woman got a raw deal on a whole lot of different levels in this situation.