Connecticut court rules that Credit Suisse CEO Dougan is trying to renege on divorce deal

Conn. court rules against Credit Suisse CEO

HARTFORD, Conn. — The chief executive of Swiss banking giant Credit Suisse is haggling with his ex-wife over nearly $1 million she says he owes her for being 12 days late with a divorce-related payment in 2006.

A Connecticut appeals court ruled against CEO Brady Dougan on Wednesday, saying he’s a “financially sophisticated person” who knowingly accepted the terms of his divorce agreement and now is reluctant to fulfill them.

The judges overruled a lower court and upheld a section of the 2005 divorce deal that said Dougan must pay a penalty if he was late in making a $7.5 million payment due to his ex-wife in 2006.

A message was left with Dougan’s lawyer.

His ex-wife’s lawyer says Dougan is liable for nearly $950,000 in interest and other costs.