Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Sunday, August 30, 2015

Tom Benson Continues Effort To Remove Heirs From Teams

BensonI have previously discussed the ongoing legal dispute between Saints and Pelicans owner Tom Benson and his jilted heirs.  Tom Benson is continuing his efforts to remove his children from ownership of the sports teams by suing the trustees overseeing the funds that hold his heirs’ stakes in the teams.  Benson claims that the way the trusts were set up permit a transfer of equivalent assets and the sports team owner transferred over $522 million in promissory notes to the trusts.  Robert Rosenthal, and attorney for the heirs, claims that Benson did not offer a fair trade in the transfer attempt.  This ongoing dispute is likely going to continue to play out in the future due to the high stakes that are involved. 

See Katherine Sayre, Tom Benson family feud: Saints, Pelicans owner continues push to remove heirs from teams, The Times-Picayune, August 28, 2015.

https://lawprofessors.typepad.com/trusts_estates_prof/2015/08/tom-benson-continues-effort-to-remove-heirs-from-teams.html

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