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Personal Planning Department’s Successful Court Application Highlighted as New York Law Journal Decision of Interest
04.19.13
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On March 29, 2013, Nassau County Surrogate Edward McCarty III approved executor’s petition for sale of interests in Kason Industries, Inc., a privately-owned international family company, to related parties. Court approval was required to qualify the sale transactions for an exception to the self-dealing excise tax. The Court agreed with executor’s claim that the sales were in the best interest of the estate, the marital trust, and the foundation. The Court’s decision appeared as a “Decision of Interest” in the April 15, 2013 edition of The New York Law Journal.
The Simpson Thacher team representing the executor in this matter includes counsel Neera Rellan Stacy and associate Nicole Rubin Sanci from the firm’s Personal Planning Department. Counsel Jennifer Reynoso from the firm’s Exempt Organization Group provided invaluable assistance.