Lessons of a Public Divorce

If you’re thinking of airing your dirty laundry about your divorce to all your friends you might want to take a look at what Janice Schacter is experiencing. According to a Manhattan judge’s ruling, Schacter will get less in the divorce from lawyer ex, Ira Schacter, because her publicaccusations hurt his business.

Accusations Thrown in Divorce

Over the course of the contentious years-long divorce Janice Schacter alleged that her now ex-husband — a partner at a prestigious law firm Cadwalader, Wickersham and Taft— was abusive, and had blown over $200,000 on an engagement ring for his Playboy bunny girlfriend instead of paying for his daughter’s hearing aid.

Ira Schacter’s Response to Divorce Accusations

Ira Schacter responded saying that Janice’s allegations had hurt his business at the law firm and had also lessened the value of his partnership there. He alleged the bad press had hurt him professionally, and had also reduced the value of his law partnership from $5 million in 2007 to just $627,000 by the time the divorce trial started in Dec. 2012.

The Judge Agreed

Justice Laura Drager agreed with Ira, ruling that as a result Janice should only get 17% of the $5 million value of the partnership, which roughly equates to $855,000.

Janice is far from being broke. She was awarded her $15,000 a month in alimony, $3,000 a month in child support, their 2003 Lexus, half the value of their $4.4 million townhouse, half the value of their $4.5 million, and half of their $650,000 in jewelry, furniture and art.

“Although the court recognizes that the wife feels she was badly treated by the husband, her repeated attacks against him have played a part in diminishing his income,” Drager wrote.

Prior to the accusations being thrown Janice had stood to collect about half.

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