Firing the newest salvo within the authorized battle over the fortune of Peter Angelos, his youthful son is asking a choose to invalidate modifications that the Baltimore Orioles proprietor’s spouse and his elder son revamped management of the belief by which the workforce and different possessions have been positioned.
In a movement filed Monday in Baltimore County Circuit Court, Louis Angelos argues that his brother, John, the Orioles’ chairman and CEO, has gone towards their ailing father’s need that his two sons share equally within the decision-making and distribution of his huge holdings.
“Things have not gone according to Peter’s plan,” in keeping with within the movement. “John has been working assiduously for an extended period to exclude his brother and to seize complete control of Peter’s business empire.”
Attorneys for John Angelos and Georgia Angelos both declined to remark Tuesday or couldn’t be reached.
Peter Angelos, who turned 93 on the Fourth of July, has been in deteriorating well being for about 5 years and not manages his affairs.
The movement is a part of a go well with that Louis Angelos, 53, filed final month, revealing a household feud over a billion-dollar-plus portfolio amassed by the patriarch, which incorporates the Major League Baseball workforce, a regulation agency that received main awards and settlements for victims of asbestos and tobacco, and substantial actual property holdings.
Since the submitting of the lawsuit, Georgia Angelos, 80, has publicly sided along with her son John, 55, saying that she alone has the authority to handle the household’s property. In October 2017, Peter Angelos had transferred his energy of lawyer to his spouse to behave on his behalf.
At situation within the latest movement is what occurs after Georgia Angelos’ loss of life. Louis Angelos claimed that amendments to his father’s property planning would permit Georgia Angelos to put aside her husband’s need for an equitable distribution of his property between the 2 brothers after her loss of life, and as an alternative divide them up as she needs.
“Rather than distribute the estate evenly, as Peter intended, Georgia could distribute the bulk or all the assets to John, or to charity, and distribute little or even nothing to Lou,” the movement states.
The movement argues that nobody can amend a belief except that’s expressly licensed within the phrases of the belief and the ability of lawyer switch. The movement says Louis Angelos was misled about one of many amendments, and was advised that it was needed for tax functions and to fulfill MLB necessities.
Louis Angelos is asking that the amendments be dominated “void and unenforceable.”
His lawsuit put the household, as non-public as they’re outstanding, in an unwelcome highlight. Among its revelations was the household’s alleged intent to promote the Orioles, as some have lengthy speculated, though Louis Angelos claimed his brother had thwarted these plans. Louis Angelos additionally intimated within the go well with that ought to his brother achieve gaining complete management of the workforce, he may transfer it to Tennessee, the place he has a house in Nashville and his spouse has a rustic music enterprise.
John Angelos denied that in an announcement after the lawsuit was filed, repeating a previous vow that the Orioles would stay in Baltimore “as long as Fort McHenry is standing watch over the Inner Harbor.”
The lawsuit got here because the Orioles’ present lease with the Maryland Stadium Authority, which bars the workforce from leaving Camden Yards, expires on the finish of subsequent yr. Negotiations are persevering with on a brand new lease, and the stadium authority has mentioned the lawsuit won’t interrupt these discussions.
John Angelos and his mom have but to file a response to Louis Angelos’ lawsuit. But they’ve been busy compiling a authorized workforce, together with veterans of earlier property battles and high-profile litigation. Among Georgia Angelos’ attorneys, for instance, is Los Angeles-based Adam F. Streisand, who has represented Jeanie Buss in a battle towards her brothers over management of the Los Angeles Lakers.
John Angelos’ attorneys embrace is Steven D. Silverman of Baltimore. While maybe greatest identified regionally for representing former Mayor Catherine Pugh within the “Healthy Holly” fraud case, Silverman additionally has been concerned in lots of advanced civil circumstances, in keeping with his regulation agency’s web site. He has represented former skilled soccer and hockey gamers in litigation towards their leagues.
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Source: www.bostonherald.com