John P. Angelos, the chairman and CEO of the Orioles, is decrying that his brother took what he calls “the nuclear option” of submitting swimsuit over a dispute in how one can deal with their father’s belongings.
In a number of filings Wednesday in Baltimore County Circuit Court, John Angelos denied the allegations that his brother, Louis F. Angelos, made about him in a lawsuit in June: that he sought to grab management of the Orioles and different belongings of their father, Peter G. Angelos, as he fell unwell and ultimately turned incapacitated in recent times.
“Lou apparently saw his father’s deteriorating condition as the perfect opportunity to take what he felt he deserved, but not what he was entitled to, under Peter’s estate plan,” in response to one movement.
It goes on to accuse Louis Angelos, 53, of basing his swimsuit on “unfounded accusations and fictitious conspiracy theories” that his brother and mom sought “to hurt him and his anticipated inheritance from the property of his father.
“Nothing could be further from the truth,” the movement mentioned.
Attorneys for John Angelos and Louis Angelos didn’t instantly reply to requests for remark.
The filings come within the wake of a swimsuit filed earlier this week by Georgia Ok. Angelos, 80, the household matriarch, who has sided together with her older son within the household dispute. Her swimsuit mentioned Louis Angelos, who had been managing his 93-year-old father’s legislation agency in recent times, offered the apply to himself in what amounted to monetary elder abuse.
John Angelos, 55, is searching for to dismiss his brother’s declare that he and their mom fraudulently transferred a few of Peter Angelos’ multimillion-dollar actual property portfolio into an entity that they managed. Louis Angelos’ swimsuit mentioned this violated his father’s intention that his sons share equally in these belongings.
But John Angelos’ movement argued that the properties weren’t part of the belief that his father created, and through which belongings just like the Orioles have been positioned. Rather, the overwhelming majority of the properties are held collectively of their mother and father’ names, and Peter Angelos’ designation of his spouse as his “attorney-in-fact” signifies he wished her “to have the right to handle the properties as she saw fit.”
Included within the filings is an affidavit by Georgia Angelos through which she says she was suggested by tax planners that as a result of most of the properties have been vacant and working at a loss, protecting them within the couple’s names “carried significant income tax problems.”
Among the properties at difficulty are buildings in Baltimore County and downtown Baltimore, in addition to the previous Bocaccio’s Restaurant that was certainly one of Peter Angelos’ favourite eating spots.
John Angelos’ movement additionally seeks to dismiss his brother’s declare of inheritance interference as untimely as a result of their father remains to be alive. Additionally, in response to the movement, Louis Angelos has not supplied proof that John has broken Louis’ relationship with their father.
In one other submitting, John Angelos goes by every declare in his brother’s lawsuit, which was filed June 9, to state whether or not he agrees, denies or has inadequate data to state both manner. John Angelos disputes how he was characterised within the swimsuit: as an influence grabber who compelled out these loyal to his father, resembling outfielder-turned-team vp Brady Anderson; intimidated his mom into acquiescence; and threatened his brother together with his inheritance when he pushed again.
The bruising feud inside the household of the Orioles proprietor is unfolding in stark distinction to the crew’s rising fortunes.
After a yearslong drought, the Orioles are delighting their long-suffering followers with an surprising run for a playoff spot. In his filings, as Georgia Angelos’ swimsuit did, John Angelos is credited with main the O’s so far. His paperwork say he put collectively a senior management crew that features General Manager Mike Elias, whose rebuilding of the group is paying off within the thrilling younger expertise on the sphere and in a farm system ranked among the many prime in its sport.
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Source: www.bostonherald.com