5th Circ. Nixes Continental's Sham Divorce Suit

Law360, New York (July 18, 2011, 8:44 PM EDT) -- The Fifth Circuit on Monday upheld the dismissal of Continental Airlines Inc.'s bid to recoup retirement money that wives of several pilots received following allegedly sham divorces, ruling a company cannot deem a domestic order invalid if the corporation discovers the divorce to be phony.

The appeals court affirmed a ruling from a district court that tossed Continental's suit accusing nine pilots who still worked for the airline of obtaining phony divorces and then assigning their pensions to their ex-wives through domestic relations orders to game...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.