IBJNews

Judge: Bren Simon can't liquidate Simon Property holdings

Back to TopCommentsE-mailPrintBookmark and Share

A Hamilton County judge handling the Melvin Simon estate battle has blocked Bren Simon from cashing in Simon Property Group Inc. partnership units worth more than $500 million.

Simon Property Group in January filed a lawsuit seeking guidance from the court after Bren, Melvin’s wife of 37 years, notified the company that she was electing to convert 6.5 million of the units held by her late husband.

Simon Property, which had the option of converting the units into cash or company stock, had taken the position that it should take no action because of the pending legal challenge to Melvin’s estate plan filed by his daughter Deborah.

"It would appear that the pending litigation constitutes a lien, which would not permit a conversion of the subject partnership at this time," Simon General Counsel James M. Barkley wrote in a Jan. 19 letter.

Bren had argued she could go ahead and convert the units, a position Judge William J. Hughes rejected in a ruling yesterday.

The dispute is one of several that has broken out since Deborah sued in early January, charging Bren coerced Melvin to make changes to his estate plan in February 2009, seven months before he died at age 82.

Deborah contends he was suffering from dementia and didn't understand what he was doing when he signed off on the plan, which boosted the share of his fortune going directly to Bren from one-third to one-half.

The changes also wiped out a portion that was to go to Deborah and her two siblings from Simon's first marriage—Cynthia Simon-Skjodt and David Simon, the chairman and CEO of Indianapolis-based Simon Property Group.

Bren, 66, contends the changes fully reflected Melvin’s wishes.

 

ADVERTISEMENT

  • greed person
    what Tim Druham did is wrong too.but bren trying take all the money she wasnt plan give no money to the chartiy or the children.
  • re
    Wow, let me understand this. Tim Durham can liquidate all his assets, all he wants, despite the strong premise he stole hundreds of millions of dollars through an investment certificate scheme.

    Yet, Bren Simon, who was a loving spouse to Mel for decades, cannot liquidate even a partial position in any of the partnership units she inherited because her step-daughter believes she should never get a job and live off of Daddy's money for the rest of her life, like she has been since I can remember.

    Debbie, GET A JOB like the rest of us have!

    How many times did you visit your Daddy in the last two years of his life?
    • golddugger
      Hey bren, The money you trying to take, half of that money go to charity,not in your pockets. you are true golddugger!!!
    • What don't you understand
      The key is not Debbie or the kids wanting more, Bren wants to cut them out completely...that is the issue, and she is playing into the charities acting as if she means well....it is true, the lawyers get the best of it, and Bren enjoys sticking the kids in the eyes....
    • More Greed
      Melvin is rolling in his grave, Worked his whole life to amass a fortune so two greedy women can have a catfight. Never enough...never enough! Give it all to charity and let them fend for themselves.
    • More Greed
      Melvin is rolling in his grave, Worked his whole life to amass a fortune so two greedy women can have a catfight. Never enough...never enough! Give it all to charity and let them fend for themselves.
    • Bren Simon can't liquidate
      The continuing full employment plan for lawyers.
    • ...
      Actually, a large portion of the money that Bren is "claiming" was originally meant to go to charity...
    • Lifetime Movie
      What a lovely story. Babbling Unaware Billionaire signs amended estate plan with lovely wife guiding the pen, while Harpie daughter cries foul, "Daddy loved me better". Heaven knows 1/3 instead of a half could never be enough for the 2 of them to divide. Sickening...makes me want to vomit...they deserve each other...may the lawyers get it all by the time they are done...haha

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      thisissue1-092914.jpg 092914

      Subscribe to IBJ
      ADVERTISEMENT