Jeffrey Crider v. Christina Crider
15 N.E.3d 1042
| Ind. Ct. App. | 2014Background
- Jeff and Christina Crider were divorced; a final decree divided a complex marital estate including multiple Crider Entities.
- Jeff owned significant but non-controlling interests in Crider & Crider, Inc. (CCI) and several LLCs (North Park, Logan, and others).
- The court valued business and real estate assets as of 2009, including CCI equipment, North Park land, and BANs tied to a TIF project, for equalization purposes.
- Christina received a substantial equalization judgment ($4,752,066) to be paid by Jeff, with security interests placed on Jeff’s stock and LLC interests as security for payment.
- Jeff appealed post-judgment orders, challenging attorney-fee awards, equalization terms, asset valuations, and security/collection provisions.
- The appellate court affirmed in part, reversed in part (notably the automatic transfer of ownership/control upon nonpayment), and remanded for further proceedings.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Attorney-fee award for enforcement | Christina requested prospective attorney-fee coverage until judgment collection. | Jeff argued no pendente lite fees without specific future hearing or amount. | Prospective award improper in exact amount but proper in principle; set to require reasonable fees |
| Post-judgment interest on equalization | Christina entitled to interest to compensate for delay in payment. | Interest should accrue at 8% from judgment date; contested as punitive. | Trial court did not abuse discretion; post-judgment interest affirmed as incentive to pay |
| Valuation of CCI | Christina’s appraisals should reflect unfunded pension liability and full equipment value. | Jeff’s experts argue against the unfunded pension liability and higher equipment value; 2009 date must be used. | Court did not abuse discretion; excluded unfunded pension liability; equipment valued at $11 million; CCI at $10,150,746 total; Jeff’s 42.5% at $2,810,506 |
| Valuation of North Park and Logan | North Park land value and BANs should reflect development potential and BANs book value. | Development prospects and BANs valuation contested; expert estimates widely divergent. | Court’s valuation supported; relied on Johnson’s land value; included BANs as asset; not an abuse of discretion |
| Security interests and automatic transfer | Security interests against Jeff’s stock/LLC interests properly secured payment of the equalization judgment. | Automatic transfer of control/ownership upon nonpayment overstepped statutory authority and corporate-law constraints. | Reversed to strike automatic transfer; allowed charging orders and sheriff’s sale options; ordered remand for tailored remedies |
Key Cases Cited
- F.B.I. Farms, Inc. v. Moore, 798 N.E.2d 440 (Ind. 2003) (stock transfer restrictions do not shield third parties from judgment liens)
- Brant v. Krilich, 835 N.E.2d 582 (Ind. Ct. App. 2005) (charging orders govern LLC member interests; management rights limited)
- Rovai v. Rovai, 912 N.E.2d 374 (Ind. 2009) (post-judgment interest in dissolutions is discretionary for equitable division)
- Macher v. Macher, 746 N.E.2d 120 (Ind. Ct. App. 2001) (genuine loans vs. gifts; intent controls marital asset/liability treatment)
- Gardner v. Yrttima, 743 N.E.2d 353 (Ind. Ct. App. 2001) (inheritance income can be included in gross child-support calculations)
- Harvey v. Harvey, 695 N.E.2d 162 (Ind. Ct. App. 1998) (valuation standards in dissolution proceedings; reasonableness of methods)
- Svetich v. Svetich, 425 N.E.2d 191 (Ind. Ct. App. 1981) (pendente lite attorney fees duly authorized)