COMMONWEALTH OF MASSACHUSETTS
THE TRIAL COURT
PROBATE AND FAMILY COURT DEPARTMENT
Suffolk Division Docket No. SU12D1453DR
INAS NAGUI BASSIOUNI, Plaintiff
M. READA BASSIOUNI, A/KJA
MOHAIVIED REDA AHMED BASSIOUNI,
A/K/A RAY BASSIOUNI, Defendant
(On Plaintiff's Complaint for Divorce filed June 15, 2012)
(On Defendant's Counterclaim for Divorce filed February 6, 2015)
All persons interested having been notified in accordance with the law, and after hearing, it is adjudged nisi that a divorce from the bonds of matrimony be granted the plaintiff for the cause of irretrievable breakdown of the marriage pursuant to G. L, c. 208, § 1B, and that upon and after the expiration of ninety (90) days from the entry of this judgment it shall become absolute unless upon the application of any person within such period,.the Court shall otherwise order. It is further ordered that:
1. Each party shall retain all the assets held in his and her individual name.
a. The plaintiff, Inas Bassiouni ("Wife") shall specifically retain her interest in the following assets listed on her financial statement filed with the Court on January 6, 2016:
- Equity shares in Technoscient
- Real estate located at 19 El Gabalia Street, Cairo, Egypt
- Agricultural land located on El Mansouria Road in Cairo, Egypt
- Real estate located on Mansouria Road in Abu Rawwash, Egypt
- Real estate located in El Ain Bay Village on the Red Sea, Egypt
- Commercial real estate located in Marbella, Spain
- Bank of America account (x5313)
- Bank of America account (x2659)
- Bank of America account (x3669)
- Citibank account (x5053)
- Banque Misr. account (x8073)
- CIB account (x5956)
- CIB account (x3730)
- Banco Popular Espafia account (x5881)
- Banco Popular Espalia account (x0469)
- Jewelry appraised by Donna DePrisco.
b. The defendant, Ray Bassiouni ("Husband") shall specifically retain his interest in the following assets listed on his financial statement filed with the Court on January 6, 2016:
- Acoustic Technologies ("ATI")
- Real estate located at 22 Union Wharf, Boston
.(3) Real estate located at 16 East 77th Street, New York City
- Real estate located at 30 Jeffries Street, Boston
- Real estate located at 2201 Collins Avenue (Units 627 and 629), Miami
- Bank of America account (x5690)
- "B of A" account (x9067)
- Citibank account (x2329)
- Citibank account (x8746)
- Citigold account (x6050)
- Citigold account (x2843)
- "B of A" IRA account (x9410)
- ATI Defined Benefit Plan account (x1633)
2. In furtherance of an equitable division of property, Husband shall pay to Wife the sum of $7,000,000 dollars in time (3) installments:
- $2.5 million shall become due and payable at ninety (90) days from the entry of this judgment nisi.
- $2.5 million shall become due and payable at six (6) months from the entry of this judgment nisi.
c, The balance shall become due and payable at one (1) year from the entry of judgment absolute..
3. Husband shall secure his obligation to Wife by taking a life insurance policy in the amount of $7 million with Wife as the sole beneficiary until such time as the transfers are completed. Husband may reduce the face amount of the policy by the amount of each installment payment when made. The parties may by agreement secure Husband's obligation by another form of security acceptable to Wife's counsel.
4. Neither party shall be obligated to provide alimony to the other.
5. Husband shall maintain health insurance for the benefit of Wife until the judgment becomes absolute. Thereafter each party shall be responsible for his/her health insurance.
6. Each party shall be responsible for his/her own uninsured medical and dental expenses..
7. Each party shall be responsible for all liabilities incurred in his or her individual name.
- Wife shall not be obligated to reimburse Husband for any temporary alimony paid during the pendency of this divorce proceeding.
- Each party shall pay his/her attorneys fees.
- Any outstanding bill to the Discovery Master is to be shared equally by the parties and paid within 60 days.
11.. Husband shall pay as sanctions the sum of $2500 to Wife within 60 days for failure to execute release for CitiBank Singapore as ordered by Discovery Master.
12. In the event of an appeal, then the outstanding temporary alimony order of June 12, 2015 shall remain in effect and Husband shall be required to maintain health insurance for Wife until disposition of said appeal.
Hon. Elaine Moriarty, Associate Justice Suffolk Probate and Family Court
Links to all Court Documents1 - Sharia Law does not apply to property
2 - Findings of Fact for Property Settlement
3 - Property Settlement