Crider v. Crider
Court of Appeals of Indiana
15 N.E.2d 1042 (Ind. Ct. App. 2014)
In dividing a marriage with over $11 million in largely illiquid assets, including Jeff's (defendant's) shares in a closely held corporation and LLC interests, the trial court ordered Jeff to make a $4,752,066 equalization payment to Christina (plaintiff) and, when he failed to pay within 180 days, automatically vested Christina with full ownership and management control of half of Jeff's business interests until he paid; Jeff appealed both the equipment valuation used to divide the estate and the security-interest remedy.
Whether, if there are not enough liquid marital assets to equitably divide a marital estate, a court may grant a spouse security interests against the other spouse's non-liquid assets to secure payment of an equalization judgment.