Erwin v. MendenhallAnnotate this Case
The superior court awarded one of the husband’s investment accounts to his wife in a divorce. Before transferring the account, the husband transferred shares of three mutual funds from that account to a separate investment account. The wife asked the court to order him to account for the missing shares. The court ordered the husband to pay the wife the value of the shares on the date of the transfer and he did so. The parties contested the value of the income earned by the improperly transferred shares. Following lengthy litigation of this issue, the superior court awarded the wife enhanced attorney’s fees. The wife appealed the valuation of the earned income of the shares; the husband cross-appealed the valuation of the earned income on the shares and the award of attorney’s fees. The Alaska Supreme Court found the superior court appropriately awarded the wife prejudgment interest instead of damages as well as enhanced attorney’s fees.