Court: Husband must share millions with ex-wife
A husband who didn’t reveal a a future multimillion dollar bonus during his divorce trial must share that bonus with his ex-wife, according to a Nebraska Court of Appeals decision released Tuesday.
During his 2005 divorce proceedings in Douglas County, Phillip Myhra — executive vice president for the health insurance company UICI — was asked a broad question that included knowledge of any awards.
Phillip Myhra failed to disclose that his employer had entered into a merger agreement entitling him to a bonus from a $20 million pool, according to the appellate court decision.
His wife, Debra Myhra, didn’t learn about the bonus until after the October 2005 divorce trial ended — but before a divorce decree had been issued.
Douglas County District Court Judge James T. Gleason allowed her to reopen the case to provide information about the $3.378 million bonus and the additional $2.4 million her husband received from cashed-out stock options and sold stock.
The district court included the bonus and stock sale in the property division.
The appellate court upheld the district court’s decision to give Debra Myhra a $2 million judgement, almost a half-million in marital assets and $3,000 a month in alimony until she reaches 65.
Phillip Myhra received about $7.8 million of the marital property, which included the bonus.
The higher court agreed that giving the wife one-third of the property was fair given her “substantial contributions” to the marriage over nearly 30 years.
The court also determined the merger bonus was based on Phillip Myhra’s cumulative efforts as an executive vice president during the years they were married.
The appellate court also upheld the lower court’s decision to reopen the case even after the trial ended.
The district court found Phillip Myhra had “knowingly concealed information about the merger bonus from his wife and the court,” according to the opinion.
Reach Nancy Hicks at 473-7250 or nhicks@journalstar.com.
During his 2005 divorce proceedings in Douglas County, Phillip Myhra — executive vice president for the health insurance company UICI — was asked a broad question that included knowledge of any awards.
Phillip Myhra failed to disclose that his employer had entered into a merger agreement entitling him to a bonus from a $20 million pool, according to the appellate court decision.
His wife, Debra Myhra, didn’t learn about the bonus until after the October 2005 divorce trial ended — but before a divorce decree had been issued.
Douglas County District Court Judge James T. Gleason allowed her to reopen the case to provide information about the $3.378 million bonus and the additional $2.4 million her husband received from cashed-out stock options and sold stock.
The district court included the bonus and stock sale in the property division.
The appellate court upheld the district court’s decision to give Debra Myhra a $2 million judgement, almost a half-million in marital assets and $3,000 a month in alimony until she reaches 65.
Phillip Myhra received about $7.8 million of the marital property, which included the bonus.
The higher court agreed that giving the wife one-third of the property was fair given her “substantial contributions” to the marriage over nearly 30 years.
The court also determined the merger bonus was based on Phillip Myhra’s cumulative efforts as an executive vice president during the years they were married.
The appellate court also upheld the lower court’s decision to reopen the case even after the trial ended.
The district court found Phillip Myhra had “knowingly concealed information about the merger bonus from his wife and the court,” according to the opinion.
Reach Nancy Hicks at 473-7250 or nhicks@journalstar.com.
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