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IN RE MARRIAGE OF KARAFOTAS

No. 1-09-2514.

932 N.E.2d 510 (2010)

In re MARRIAGE OF Phillip T. KARAFOTAS, Petitioner-Appellee, and Pamela G. Karafotas, Respondent-Appellant.

Appellate Court of Illinois, First District, Fifth Division.

Rehearing Denied July 21, 2010.

Attorney(s) appearing for the Case

Joel J. Bellows, Christopher L. Gallinari, Leslie P. Poole, Bellows and Bellows, P.C., Chicago, IL, for Phillip Karafotas.

Howard A. London, Alan J. Greiman, of counsel, Beermann Swerdlove LLP, Chicago, IL, for Pamela Karafotas.

Justice LAVIN delivered the opinion of the court:

In this case, we consider the effect of a marital settlement agreement (the Agreement) upon the windfall profits earned from the postdivorce sale of stock from a seat on the Chicago Mercantile Exchange (CME) after its very successful initial public offering (IPO). The trial court ruled that a "sale" of the seat had not occurred, since the trading rights still existed after the husband sold 10,800 shares of stock for...

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