DISCUSSION 3 - Is this a Mutual Mistake to allow new Agreement?

Issue:Should the plaintiff be permitted to use a mutual mistake claim in the context of a marital settlement agreement?

Facts:The plaintiff and defendant divorced in 2006 and split their $13.5 million in assets. In 2008 the plaintiff thought the terms of the divorce contract should be renegotiated because he lost almost all of his divorce proceeds when it came to light that his later investment in the Bernie Madoff's business turned out to be fraudulent. When the defendant refused to renegotiate, the plaintiff sued.

Who should win and why?