Suing a Family Trust

Friday, August 21st, 2009

Mary Bucksbaum Scanlan, an heiress of Bucksbaum shopping-mall clan has sued the family trust as well as its lawyers for breach of fiduciary duty and malpractice.  She blamed them for investment losses from her trust shares worth $300 million. 

The 40-year-old is a daughter of Martin Bucksbaum, who’s the late co-founder of General Growth Properties Inc.  She filed this lawsuit in Chicago U.S. District Court naming attorneys Earl Melamed and Marshall Eisenberg with their law firm named Neal, Gerber, and Eisenberg LLP.  Also included in the suit is General Trust Co., Bucksbaum family trust as defendants.

The attorney representing Melamed, Eisenberg, and their law firm is Atty. Stephen Novack, who claims that losses suffered by Bucksbaum family trust were truly caused by the souring stock market and the economy.  General Growth is based in Chicago - it manages and owns over 200 malls in the U.S. but it filed for bankruptcy (Chapter 11) protection in April carrying a debt load of $27 billion.

The lawsuit of Mrs. Scanlan alleges the attorneys (also the trustees) of breach in their fiduciary duties since they kept most of the assets of the trust in General Growth stock during the time that stock has declined in 2007 from $67 to $1 last year.  Allegedly, the attorneys also failed to inform her about the loans made to executives of General Growth with a total of $100 million.

Tags: attorneys, Bucksbaum, Chicago, Earl Melamed, Family Trust, General Growth Properties, heiress, law, lawsuit, lawyers, malpractice, Marshall Eisenberg, Martin Bucksbaum, Mary Bucksbaum Scanlan, Stephen Novack, stock, sue, trust
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Animal Charities ask for Helmsley’s Billions

Thursday, July 23rd, 2009

A petition that concerns Leona Helmsley’s will is claiming that the office of Attorney General Andrew Cuomo issues incorrect analysis and a surrogate judge has used faulty reasoning before millions in grants were paid out by the estate’s trustees.

First of all, the major beneficiary in her will (worth $12 million) is her beloved Maltese named Trouble.  However, the dog was mentioned only once in the petition and then another in the supporting documents.

Three animal protection groups filed the petition saying that the money of Mrs. Helmsley is not being spent on dogs as mentioned in her will.  These three groups are Maddie’s Fund, American Society for Prevention of Animal Cruelty, and Humane Society.  They accused the estate trustees of Mrs. Helmsley of a “scheme to deprive welfare charities to dogs.”  Her fortune is estimated to be around $5 billion but only $1 million were earmarked for organizations taking care of animals.

A professor of law and philanthropy at New York University, Harvey Dale, said that this lawsuit may face significant hurdles since donors, beneficiaries, and potential beneficiaries don’t have any standing to intervene.  Maddie’s Fund president, Rick Avanzino, acknowledged that there’s difficulty in challenging trustees because their organization was not even named in the will of Mrs. Helmsley.  But still, they will push through with this lawsuit to penalize the trustees who chose to ignore the wishes and direction of their benefactor.

Tags: American Society for Prevention of Animal Cruelty, Andrew Cuomo, Attorney General, estate, Harvey Dale, Humane Society, law, lawsuit, Leona Helmsley, Maddie's Fund, petition, Rick Avanzino, Trouble, trustees, will
Posted in Wills | No Comments »

Medical Malpractice Happens

Wednesday, June 17th, 2009

Medical hit-and-runs happen when patients are gravely injured or killed by medical error. These are errors that can be prevented but sometimes, nurses and doctors pretend like nothing happened. This occurs almost every day across America. However, most patients cannot tell the difference between “normal stuff” and preventable harm.

And when families learn the truth either from accident or from hiring a lawyer, their confidence and trust in the medical system may vanish in an instant. The medical injury compounded by lying and betrayal carries a long-lasting and searing pain for these families.

The only way that these victims of medical malpractice can fight back is through their right to sue. Certainly, they can claim financial compensation to stave off the possible bankruptcy of a serious injury or death. These cases can leave the family with huge medical bills or unending debt.

Remember that the healing process for these medical injuries is filing a lawsuit. Some say that they don’t really want revenge, just to save other people from experiencing the same thing.

It’s possible that the medical industry today is beginning to neglect patient safety. More than a decade after entering the 21^st century, the industry denies the legitimate role of patients in enforcing and monitoring their own safety. In fact, a complex structure of “privilege” and confidentiality laws are ensuring that safety reviews are never reported in any form accessible to the public.

Tags: Injury, lawsuit, lawyer, medical, medical industry, medical injury, medical malpractice, system
Posted in Injury, Medical Malpractice | No Comments »

Injury Suits Distinction Discarded

Friday, June 5th, 2009

A lawsuit was filed by Valerie Koenig, a woman living in Des Moines who tripped in her son’s house over a carpet-cleaner. She sued due to suffering a leg injury. However, she lost in a Polk County court. Consequently, she appealed, saying that the judge relied on jury instructions already outdated in modern society.

In the past, property owners need to warn allowed visitors and invited visitors on potential dangers. Those who were invited to the property could sue if the owner failed to warn them of these dangers. However, those merely allowed to visit (or “licensees”) could not.

This centuries-old provision that differentiates between people invited onto private property or those merely allowed to visit has been dissolved by the Iowa Supreme Court. The lawyers said that the decision eliminated an outdated rule leading to confusion among jurors as well as conflicting results in courtrooms.

Justice Brent Appel described the ruling on Friday as a “higher valuation given to public safety as compared to property rights.” As a result, justices returned Koenig’s case to Polk County to undergo a new trial. If she can prove that her son showed “general negligence,” then she could have a good chance of winning the case.

Tags: Des Moines, Injury, Justice Brent Appel, lawsuit, leg injury, licensees, personal injury, Polk County court, Valerie Koenig
Posted in Injury, Latest Legal News, Personal Injury | No Comments »

Employee Rights in the Workplace

Saturday, May 16th, 2009

Depending on your profession, the state where you live in, and the size of your employer, you may be entitled to these legal protections and rights to:

• -Privacy in personal matters
• -Take a leave and care for one’s family
• -A safe workplace
• -Fair pay (at least receive the minimum wage)
• -Workplace free of harassment
• -Not be discriminated against due to age, disability, religious beliefs, pregnancy, gender, skin color, national origin, and race

If you feel that your rights have been violated, the first thing to do is talk to your employer. You’ve got to know your rights, stick to the facts, and avoid being overly emotional. In addition, document the problem to protect yourself. Gather documents and take note of events and key conversations. However, be careful to collect only the documents that you have legitimate access to. If you copy or take confidential records, it may compromise your legal claims.

Now if your employer does not seem to take your complaint seriously, then you need to take legal action. The law can help you make a claim. Take note that you might want to consult a lawyer so that you can figure out what you can lose or gain by filing a lawsuit.

Tags: employee rights, law, lawsuit, lawyer, legal action, Legal Claims
Posted in Workplace Law | No Comments »