This is interesting,....
Olympic's Werbes prepares for punishment
Olympic Resources Ltd ORL
Shares issued 10,654,378 Nov 18 close $0.30
Thu 18 Nov 99 Street Wire
THE FORGOTTEN FERRARI
by Brent Mudry
It is a rare event that a Howe Street lawyer faces punishment by a judge
for doing anything wrong, but that is the unenviable predicament facing
Olympic Resources director Kjeld Werbes -- not for any of his securities
work but for dodging child and spousal support payments. Mr. Werbes's
latest family lawyer, Michael Leslie, is preparing to argue that his client
deserves leniency at a contempt-of-court punishment hearing on Monday. Mr.
Werbes was found guilty of contempt on Aug. 31 by Madam Justice Donna
Martinson, after he disregarded her March 1 court order to sell his Ferrari
to pay overdue child support and maintenance. It now appears that Mr.
Werbes has a second Ferrari and a condo, which he forgot to tell the judge
about.
Citing the new evidence of more assets popping up, Madam Justice Donna
Martinson threw out Mr. Werbes's third attempt to scale down a child and
spousal support order made on June 26, 1998. In the 11-page Nov. 1
decision, Judge Martinson also rejected Mr. Werbes's bid to force his
estranged wife, Nadia Hama, to sell the former matrimonial home. Ms. Hama
has lived in the False Creek condo, with Mr. Werbes paying the mortgage,
with the couple's two children.
The rocky divorce case was further complicated on Sept. 23, when Mr.
Werbes's estranged wife, Nadia Hama, dropped their Down syndrome toddler
Kaya from the Capilano Suspension Bridge. Kaya and her brother Jovan are
now in ministry care and living with relatives of Mr. Werbes as officials
try to determine if the baby-dropping incident was an accident.
While there has been no complete disclosure yet, Mr. Werbes claims he only
made $79,982 in income last year, based on his tax return, filed in June,
which would give a support guideline payment of $1,026 a month. The
lawyer's claimed income starkly contrasts the $210,000 originally estimated
by the support judge, based on $156,000 in professional practice income and
$54,000 from other sources.
Judge Martinson notes that Mr. Werbes has already spent $32,000 in legal
fees, primarily for appealing court rulings, applying to change court
orders and defending the contempt application. "That money could be better
spent supporting his family," states the judge.
The judge notes the securities lawyer could meet his family obligations if
he parted with some of his other assets, including a second Ferrari and a
second condo. "While he relies on the fact that he is now living in the
basement suite at his parents' residence, he neglected to tell the court in
his affidavit material that his adult son is living rent free in another
condominium he owns," states Judge Martinson.
While a divorce trial, set for December, has now been delayed, Judge
Martinson says there is a "reasonable possibility" that Ms. Hama will keep
the False Creek condo as a result of the trial. The judge also notes that
Ms. Hama may get the children back. "The children require some stability,"
she states.
With Mr. Werbes losing in court again, his biggest challenge will come at
the punishment hearing, with his ex-wife's lawyer, Megan Ellis, arguing it
is time to pay up or face the music.
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