Bruno v. Bruno

31 A.3d 860, 132 Conn. App. 339, 2011 Conn. App. LEXIS 575
CourtConnecticut Appellate Court
DecidedDecember 6, 2011
Docket30879, 32079
StatusPublished
Cited by14 cases

This text of 31 A.3d 860 (Bruno v. Bruno) is published on Counsel Stack Legal Research, covering Connecticut Appellate Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Bruno v. Bruno, 31 A.3d 860, 132 Conn. App. 339, 2011 Conn. App. LEXIS 575 (Colo. Ct. App. 2011).

Opinion

Opinion

ESPINOSA, J.

These appeals arise out of two post-judgment orders related to the judgment of dissolution of the parties’ marriage on March 17, 2008. In the cross appeal by the defendant, Lisa Bruno, from the trial court’s ruling on the motion by the plaintiff, Stephen J. Bruno, to modify his alimony obligations, AC 30879, the defendant claims that the court improperly (1) modified the plaintiffs alimony obligation on the basis of a substantial change in his financial circumstances and (2) ordered her to pay expert witness fees.

In the defendant’s appeal from the trial court’s post-dissolution order regarding the division of certain assets held in a Charles Schwab bank account, AC 32079, the defendant claims that the court improperly (1) failed to order that the account be divided as of the date of *341 the dissolution judgment and (2) concluded that certain pendente lite orders remained in effect during a stay associated with prior appeals. We reverse in part and affirm in part the judgment of the trial court in AC 30879 and reverse the judgment of the trial court in AC 32079.

The following facts, as found by the trial court, and procedural history are relevant to our resolution of these appeals. The parties’ marriage was dissolved on March 17,2008. At the time of the dissolution, the court, Hon. Sidney Axelrod, judge trial referee, ordered the plaintiff to pay alimony to the defendant in the amount of $4000 per week. On January 2, 2009, the plaintiff filed a motion to modify the court’s alimony order, citing a substantial change in his financial circumstances. On February 26, 2009, the court, Winslow, J., granted the plaintiffs motion for modification, ordering that the plaintiffs alimony be reduced to $1500 per week as of the date of the judgment, increasing to $3000 per week on January 1, 2010. The court also ordered that the defendant pay $1000 to cover deposition fees for an expert witness. The plaintiff filed an appeal from this order, AC 30879, and the defendant filed a cross appeal in AC 30879. The plaintiffs appeal was dismissed by this court. 1

In addition to the orders regarding alimony, the court, in the March 17, 2008 judgment of dissolution, ordered the division of certain assets in a Charles Schwab bank account (Schwab account). The defendant filed several appeals, which had the effect of staying the equitable division of the marital assets, including the Schwab account, during the pendency of the appeals. On August 31, 2009, the defendant withdrew her appeals, thereby *342 lifting the stay. On September 19, 2009, the defendant filed a motion for contempt in an effort to compel the plaintiff to comply with the court’s order regarding the division of the Schwab account. Ultimately, the court, Winslow, J., calculated the amount owing out of the Schwab account based on the value of the assets as of August 31, 2009, the date the stay was lifted. The defendant challenges the propriety of Judge Winslow’s ruling in AC 32079. We will address each of the defendant’s appeals in turn. Additional facts and procedural history will be set forth as necessary.

I

AC 30879

In the first of these appeals, AC 30879, the defendant alleges that the court (1) improperly modified the plaintiffs alimony obligation based on a substantial change in the plaintiffs financial circumstances and (2) improperly ordered that she pay $1000 in expert witness fees. We will address each of these claims in turn.

A

With regard to the defendant’s first claim in AC 30879, the defendant contends that the court improperly concluded that there was a substantial change in the plaintiffs financial circumstances that rendered the original alimony order unjust. The following additional facts are relevant to this aspect of the appeal. At the time of dissolution, on March 17, 2008, the plaintiff was unemployed but was seeking employment as a “senior portfolio manager running individual portfolios devoted to technology and telecommunications;” a position where the plaintiff expected to earn $1 million per year. Prior to his unemployment, the plaintiff earned $2.1 million during his most recent full year of compensation. The court found that the plaintiff was employable as a senior portfolio manager. At the time of the dissolution, there *343 were only 102 such positions available in the country. The court concluded that the plaintiff had a gross annual earning capacity of $1 million and the defendant had a gross annual earning capacity of $100,000. The court ordered weekly alimony payments to the defendant in the amount of $4000.

On January 2, 2009, the plaintiff brought a motion to modify the original alimony orders entered pursuant to the March 17,2008judgment of dissolution. The plaintiff claimed that there was a substantial change in his circumstances because his “earning capacity had been substantially reduced and/or eliminated” and he had “obtained employment at a compensation level that is substantially less than his earning capacity was determined to be.” At the hearing on the motion to modify, the plaintiff presented testimony from David Bartram, a partner at an executive search firm specializing in financial services, 2 who testified as an expert on “the current status of the job market, employment opportunities and compensation levels in the portfolio management field.” Bartram testified that there were presently no portfolio management jobs available. Bartram also testified, however, that he did not know if executive search firms other than the firm at which he was a partner had available positions similar to that of a portfolio manager.

At the hearing, the plaintiff testified that, although he actively sought employment prior to the date of dissolution, he was no longer seeking employment as a portfolio manager. Rather, the plaintiff described himself as self-employed since January, 2008, two months prior to the date of the judgment entering the original *344 alimony orders. Specifically, the plaintiff testified that he was currently running a hedge fund that he had founded. Although he was not yet earning a profit from this employment, the plaintiff testified that he believed the endeavor would become profitable and that he decided to start the hedge fund because he believed that it was the only way he could replicate the level of compensation he had received at his previous employment.

In light of this evidence, the court concluded that there had been a substantial change in the plaintiffs financial circumstances. The court reasoned that this substantial change occurred “because, essentially, of economic conditions that have occurred [as evidenced by] the testimony of Mr. Bartram that there has been a substantial decline in the availability of positions in the field with which [the plaintiff] is most familiar as well as [the plaintiffs] testimony himself.” The court then held that the plaintiff had a present earning capacity of $150,000, which would increase to $650,000 by January 1, 2010, when the court believed, based on evidence presented at the hearing, that the plaintiffs hedge fund would become profitable.

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Cite This Page — Counsel Stack

Bluebook (online)
31 A.3d 860, 132 Conn. App. 339, 2011 Conn. App. LEXIS 575, Counsel Stack Legal Research, https://law.counselstack.com/opinion/bruno-v-bruno-connappct-2011.