In the Matter of the Sang Yeon Hahn Trust
Published: Jun. 22, 2013 | Result Date: Dec. 20, 2012 | Filing Date: Jan. 1, 1900 |Case number: BP108268 Settlement – $11,000,000
Facts
Respondents entered into option agreements with petitioner trust allowing them to purchase two apartment complexes held by the trust. When respondents attempted to exercise their rights pursuant to those option agreements, petitioner trust and its beneficiaries initiated separate actions in the Los Angeles County Probate Court and Superior Court of Guam state seeking to invalidate the option agreements claiming they were fraudulently induced and that respondents had breached their obligations under the option agreements. Respondents compelled the probate matter to arbitration at JAMS.
Result
After the arbitrator issued an interim arbitration award in respondents' favor, the parties settled all matters between them for $11,000,000.
Other Information
FILING DATE: Dec. 21, 2007.
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