Zacadia Financial Limited Partnership v. Conrad Lee Klein, Jack Reynolds, Christopher Pair as Trustees of Mark Hughes Family Trust
Published: Feb. 23, 2013 | Result Date: May 3, 2012 | Filing Date: Jan. 1, 1900 |Case number: BC396443 Verdict – Defense
Court
L.A. Superior Central
Attorneys
Plaintiff
Defendant
Edward A. Woods
(Akin Gump Strauss Hauer & Feld LLP)
Susan Kay Leader
(Wilson, Sonsini, Goodrich & Rosati PC)
Facts
Zacadia Financial Limited Partnership filed suit against Conrad Klein, Jack Reynolds, and Christopher Pair as Trustees of the Mark Hughes Family Trust in relation to an estate tax deal.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiff alleged that the trust had breached its promissory note and security agreement with a private third-party entity, which was used as way to transfer funds to pay Defendant's estate taxes. Plaintiff claimed that the trust violated the agreement.
Damages
Plaintiff sought immediate payment of a $343 million dollar note and other damages, amounting to $400 million
Result
Defense.
Length
four weeks
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