A long-running divorce case involving the founder of the Cancer Treatment Centers of America was finalized Wednesday, with Alicia Stephenson getting a small fraction of the $400,000 a month she sought in alimony.
The written order from McHenry County Judge James S. Cowlin was quietly distributed to attorneys representing Richard Stephenson and his ex-wife, who moved out in June 2007 and filed for divorce in September 2009.
Among the key rulings were that Alicia Stephenson, who had sought a net of $400,000 a month, would receive $27,500 a month after taxes. She had been receiving $68,500 a month in alimony under a temporary agreement.
"We are pleased with the court's ruling today and believe this fair decision will allow the parties to put this matter to rest. From the beginning, we have sought to bring this private matter to a close and believe this decision does just that," Richard Stephenson said in a statement issued by a representative.
A message left with Alicia Stephenson's attorney, Elizabeth Wakeman, was not immediately returned.
Alicia Stephenson also will get to keep a 1991 Porsche Carrera, jewelry, a Santa Claus collection, two Harley-Davidson motorcycles and her 401(k), according to the court ruling.
She does not get other items, such as any artwork, china, or interest in any of the couple's homes in Barrington, Colorado, Michigan and the Virgin Islands, according to the ruling.
Richard Stephenson also will pay his ex-wife a $6.52 million lump sum to buy out her interest in 10 entities owned or co-owned by the couple, according to the ruling.
Cowlin also found Alicia Stephenson failed to prove that her ex-husband used her money to pay for a $2 million wedding reception or a home in Arizona, so she can't recoup what he allegedly spent, according to court records.
In a written closing argument after the 32-day trial earlier this year, Richard Stephenson's attorney David Grund contended it took Alicia Stephenson four years of litigation to merely acknowledge a prenuptial agreement between the couple and has tried to obtain assets to which she has no legal right.
"(Despite the prenuptial agreement) Alicia continues to claim and demand property and support to which she is not entitled," wrote Grund. "In the process, she has and continues in her attempt to impugn Richard's fine reputation and extort an unreasonable financial settlement from him to which she is not entitled."
Wakeman, in her written closing argument, petitioned for some $2 million in attorney fees and argued Richard Stephenson was "evasive, elusive and played games through the entire litigation" to hide his assets, not disclose them and to stop Alicia Stephenson's efforts to document them.
Wakeman argued that Richard Stephenson's obstruction in releasing information on his assets forced her to call witnesses that detailed his lifestyle and spending habits.
"He chose to make the case much longer than it needed to be," Wakeman wrote. "Alicia was not able to stipulate to the prenuptial agreement because Richard was continuing to maintain a position that she owned nothing. That was blatantly false."
Both sides have 30 days to appeal Wednesday's ruling.