Sylvester Stallone denies hiding marital assets in response to Jennifer Flavin's divorce filing

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Sylvester Stallone has denied intentionally dissipating marital assets in response to his estranged wife Jennifer Flavin's divorce filing.

The former model filed paperwork to end her 25-year marriage to the Rocky star on 19 August, claiming that their union is "irretrievably broken".

In her petition, she also accused Stallone of hiding assets, writing, "The Husband has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate."

Responding to her filing in court documents submitted in Palm Beach County, Florida, Stallone's legal team insisted that he has "not engaged" in the behaviour of which he has been accused, reported People on Monday.

In addition, the 76-year-old actor agreed that their marriage was "irretrievably broken" and did not oppose Flavin's petition to "restore" her maiden name.

However, he did fight Flavin's request to have "exclusive use" of their home in Palm Beach.

Addressing the split, Flavin previously told People, "I'm sad to announce that after 25 years of marriage I have filed for divorce from my husband Sylvester Stallone. While we will no longer be married, I will always cherish the more than 30-year relationship that we shared, and I know we are both committed to our beautiful daughters."

The Rambo actor subsequently denied that they broke up over a dog, insisting that they simply went in "different directions".

"I have the highest respect for Jennifer," Stallone stated to TMZ. "I will always love her. She's an amazing woman. She's the nicest human being I've ever met."

Stallone and Flavin, who wed in 1997, share daughters Sophia, 26, Sistine, 24, and 20-year-old Scarlet.