LA Supreme Court denies 3Rs' appeal (1 Viewer)

[fdl16]

State Supreme Court sides with Tom Benson in competency case | wwltv.com

NEW ORLEANS - The Louisiana Supreme Court on Monday refused to hear an appeal by the estranged family of Saints and Pelicans owner Tom Benson, meaning their attempt to have Benson declared incompetent has come to an end.

The Supreme Court upheld the lower court ruling last year by Judge Kern Reese, which found Benson was mentally competent to manage the teams.

 

[TheRealJRad]

I feel the most accurate response is "lol".

 

[St.Fury]

As expected. Justice, IMO, has been ( at least partially) served.

 

[AARPSaint]

Sometimes, the legal system works properly.

 

[GrandAdmiral]

The article mentioned the still pending federal case over the ownership shares in the teams. I just want to be sure that this case is over the non-voting shares in the franchises.

 

[Mudbug67]

The article mentioned the still pending federal case over the ownership shares in the teams. I just want to be sure that this case is over the non-voting shares in the franchises.

Yes, the no voting shares were the shares the Rs wanted to keep in the trust (That's the fed court suit). The other voting shares were the target of the competency litigation.
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[Da Living Saint]

From: Da Living Saint
To: 3 Rs:

now we just need to get a legitimate succession plan past Gayle on paper. She's not a young lady either.

 

[Andrus]

I think that the three R's should consider themselves very fortunate that the trust that Tom Benson created for them is of the "irrevocable" variety about now.

 

[KCWhoDat]

Very very sad that a family is acting like that. Especially daughter and grand kids.....

 

[AgnesT]

I wish someone would explain to me how Benson is incompetent to run his affairs(according to the 3 R's) but is competent enough to settle a case in Texas.

 

[crosswatt]

The article mentioned the still pending federal case over the ownership shares in the teams. I just want to be sure that this case is over the non-voting shares in the franchises.

This case is Benson versus Bobby Rosenthal and Mary Rowe, the trustees in charge of overseeing the trust.

The issue as I understand it is that Benson wanted to do an asset swap, apparently something he has done several times before. Supposedly, if the values are determined to be equal, Tom does not need the trustee's approval to make an asset change.

Benson had the assets that he wanted to exchange for the shares of the Saints and Pelicans in the trust's value assessed by Empire Valuation Consultants, and presented the swap proposal to Rosenthal. He declined the swap, and asked for a second estimate as to the value of the assets. Benson refused on the grounds that Empire had provided acceptable estimates in previous transactions, and that there was no legitimate reason for the trustee to not accept their figures this time.

Benson presented an amended asset portfolio with an estimated value equal to the shares in the trust, and Rosenthal again declined to process the swap. So Benson files suit in federal court to force him to make the transaction.

Rosenthal countered with a suit asking for the case to be dismissed, as a New Orleans court doesn't have jurisdiction over Texas dealings (which I don't understand since its federal court. But I digress), and resigning his position as trustee of the 2012 trust in question, naming Mary Rowe his successor.

She has also declined to approve the swap, prompting Benson to add her to the suit.

The LeBlanc's have no say or stake in this case, as their last attempt to wrestle control of the sports franchises died on the Supreme Court's steps. They're done.