Allan Cutrow Quoted in Los Angeles Daily Journal
A recent article in the Los Angeles Daily Journal featured the successful $2 billion sale of the Los Angeles Clippers to Steve Ballmer, co-founder of Microsoft. Outlining the unique circumstances which allowed this sale to complete quickly and without further legal hindrance, the issue of preventing a possible, and likely appeal from Donald Sterling, was reviewed as counsel for Ballmer proceed with the sale while invoking clause 1310(b), “an extremely novel tactic.” Judges are extremely reluctant to grant 1310(b) motions due to its objective in denying appellate rights.
Allan B. Cutrow, Chair of MSK's Trust and Estates practice, is quoted in the discussion: “…Ballmer’s $2 billion offer, combined with Donald Sterling’s questionable capacity to oversee the estate and deal with looming legal actions by the NBA and its players union, could easily be seen as having the potential to irreparably harm the trust”. He explains that the LA County Superior Court Judge, Michael Levanas, had to make a difficult decision while considering the ramifications, “because the ability to make a party whole whose appellate rights are being removed is important.”
Mr. Cutrow concludes that the decision was made when one considers what is at stake: “the money is so substantial that it trumps the franchise interest.” Mr. Cutrow has extensive experience in estate and trust administration, gift planning and estate disputes. He has represented several high-worth and high-profile clients including the Philippine Government Agency on behalf of the Estate of Ferdinand Marcos. His distinguished career often leads to requests for Mr. Cutrow’s analysis of legal issues. Most recently, he was a guest analyst for CBS News LA radio broadcasts addressing the sale of the Clippers team.
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