In the latest twist in a legal battle over Peter Angelos’ fortune, his younger son is asking a judge to overturn changes the Baltimore Orioles owner’s wife and older son made to him. had taken over the control of the trust in which the team and other assets were taken over. kept
In a motion filed Monday in Baltimore County Circuit Court, Luis Angelos argued that his brother John, the Orioles’ chairman and CEO, had gone against their ailing father’s wishes that his two sons make the decision. Equally involved in its creation and wide distribution. Holdings
“Things didn’t go according to Peter’s plan,” according to the motion. “John has been working for a long time to oust his brother and take full control of Peter’s business empire.”
Attorneys for John Angelos and Georgia Angelos declined to comment or could not be reached Tuesday.
Peter Angelos, who turned 93 on July 4, has been in failing health for nearly five years and is no longer able to manage his affairs.
The motion is part of a lawsuit filed by 53-year-old Luis Angelos. Last month, the family feud came to light A portfolio of more than a billion dollars that the patron amassed, including a Major League Baseball team, a law firm that won large awards and settlements for victims; asbestos and tobacco, and substantial real estate holdings.
Since filing the lawsuit, 80-year-old Georgia Angelos has publicly supported her 55-year-old son, John. She alone has the authority to manage the family assets.. In October 2017, Peter Angelos transferred his power of attorney to his wife to act on his behalf.
At issue in the recent movement is what happens after Georgia Angelos dies. Luis Angelos made this claim. Amendments to her father’s estate planning will allow Georgia Angelos to set aside her husband’s wishes for an equitable distribution of his assets after his death and instead distribute them according to her will. do it
“Instead of dividing the estate equally, as Peter intended, Georgia could distribute most or all of the assets to John, or to charities, and distribute little or nothing to Lou,” he said. It is said in the motion.
The motion argues that no one can modify a trust unless expressly authorized in the terms of the trust and the power of attorney transfer. The motion said Los Angeles was misled about an amendment, saying it was necessary for tax purposes and to meet MLB’s requirements.
Luis Angelos is asking that the amendments be declared “void and unenforceable.”
His lawsuit thrust the family, prominent as they are, into an unwanted spotlight. Among his revelations was the family’s alleged intention to sell the Orioles, as some have long speculated, although Luis Angelos claimed that his brother had thwarted those plans. Luis Angelos also said in the suit that if his brother were to gain full control of the team, he could move it to Tennessee, where he owns a house in Nashville and his wife plays country music. is the business of
John Angelos denied that in a statement after the lawsuit was filed, repeating a past commitment that the Orioles would remain in Baltimore. “As long as Fort McHenry watches over the inner harbor.”
The lawsuit comes as the Orioles’ current lease with the Maryland Stadium Authority, which prevents the team from leaving Camden Yards, expires at the end of next year. Negotiations over a new lease are ongoing, and the Stadium Authority has said. The lawsuit will not disrupt these discussions.
Joan Angelos and her mother have not yet filed a response to Luis Angelos’ lawsuit. But he was busy assembling a legal team, incl Veterans of former estate battles and high-profile litigation. For example, among the Georgia Angels’ attorneys is Los Angeles-based Adam F. Streisand, who has represented Jenny Buss in her battle against her brothers over control of the Los Angeles Lakers.
John Angelos’ attorneys include Steven D. Silverman of Baltimore. Although perhaps best known locally for representing former Mayor Catherine Pugh in the “Healthy Holly” fraud case, Silverman has also been involved in several complex civil cases, according to his law firm’s website. He has sued the leagues of former professional football and hockey players.