ILNews

Justices decline to take Holiday World dispute

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The Indiana Supreme Court will let stand the ruling that the widow and children of the late William Koch Jr. can keep their shares in the southern Indiana theme park Holiday World and Splashin’ Safari. The justices declined transfer to the legal dispute which arose in the Koch family following Will Koch’s death.

The Koch Development Corp.’s 2002 share purchase and security agreement required the corporation to buy all the shares of common stock whenever a shareholder died. After Will Koch, then the majority owner, passed away in June 2010, his brother, Dan Koch, became owner and operator of Holiday World.

Dan Koch subsequently tendered an offer of $26.9 million for Will Koch’s majority shares. However, Will’s widow Lori Koch charged that Dan Koch had undervalued the shares and the actual purchase price is $32.1 million.

In October, the Indiana Court of Appeals found Dan Koch and KDC materially breached the agreement and, therefore, the estate did not have to sell Will Koch’s shares.

The justices denied 10 other cases for the week ending Feb. 14. The complete list is available on the court’s website.
 

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  1. For many years this young man was "family" being my cousin's son. Then he decided to ignore my existence and that of my daughter who was very hurt by his actions after growing up admiring, Jason. Glad he is doing well, as for his opinion, if you care so much you wouldn't ignore the feelings of those who cared so much about you for years, Jason.

  2. Good riddance to this dangerous activist judge

  3. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

  4. I want to post this to keep this tread alive and hope more of David's former clients might come forward. In my case, this coward of a man represented me from June 2014 for a couple of months before I fired him. I knew something was wrong when he blatantly lied about what he had advised me in my contentious and unfortunate divorce trial. His impact on the proceedings cast a very long shadow and continues to impact me after a lengthy 19 month divorce. I would join a class action suit.

  5. The dispute in LB Indiana regarding lake front property rights is typical of most beach communities along our Great Lakes. Simply put, communication to non owners when visiting the lakefront would be beneficial. The Great Lakes are designated navigational waters (including shorelines). The high-water mark signifies the area one is able to navigate. This means you can walk, run, skip, etc. along the shores. You can't however loiter, camp, sunbath in front of someones property. Informational signs may be helpful to owners and visitors. Our Great Lakes are a treasure that should be enjoyed by all. PS We should all be concerned that the Long Beach, Indiana community is on septic systems.

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