
Simon estate gift creates ‘potentially tough situation’ for small foundation
The Great American Songbook Foundation now has the expensive responsibility of maintaining the 107-acre Asherwood, including paying a nine-person maintenance staff.
The Great American Songbook Foundation now has the expensive responsibility of maintaining the 107-acre Asherwood, including paying a nine-person maintenance staff.
The residential redevelopment of the sprawling Simon estate on Ditch Road known as Asherwood that local homebuilder Paul Estridge Jr. announced late last year might not happen after all.
The spat stems from a dispute over whether Mel Simon's sale of his half of the Indiana Pacers to his brother Herb months before Mel's death in 2009 was an arm's-length transaction.
CIB attorneys had sought to block the IRS from deposing former presidents Pat Early, Bob Grand and Ann Lathrop in a legal dispute stemming from a 2009 deal that transferred full ownership of the Indiana Pacers to Herb Simon.
Three former presidents of the city’s Capital Improvement Board—Pat Early, Bob Grand and Ann Lathrop—are fighting an effort by attorneys for the IRS to depose them about what they learned about the Indiana Pacers' finances during discussions with the team.
Emails appear to buttress the IRS’ case that Herb Simon received a sweetheart deal when he acquired his ailing brother Mel’s 50 percent ownership in the Indiana Pacers in early 2009.
Homebuilder Paul Estridge Jr. has been in discussions about acquiring the sprawling 106-acre property on Ditch Road, according to a source familiar with the deal.
The legal fallout stemming from Melvin Simon’s decision to unload his half of the Indiana Pacers to his brother Herb just a few months before his September 2009 death is getting crazier by the day.
Mel Simon sold his stake in the Indiana Pacers to his brother Herb in February 2009, seven months before Mel's death. Lots of legal questions are swirling around the deal six years later.
The Indiana University Simon Cancer Center appears ill-suited for the future of cancer care and its own future is in question.
Bren Simon claims she is owed a tax refund related to $83 million in contributions her late husband made to the Indiana Pacers to save the team from ruin after the infamous 2004 brawl against the Detroit Pistons.
If prior sales of expensive one-of-a-kind homes are any guide, the Carmel estate owned by Bren Simon will be difficult to sell for anything near its asking price of $25 million.
The 106-acre property includes a 50,000-square-foot mansion and private, 18-hole golf course. Mel Simon and his wife, Bren, had been working on disposing of the home even before the billionaire’s death in September 2009.
The estate earmarked at least $1 million for nine recipients, from Butler University and the Indiana University Foundation to The Children’s Museum of Indianapolis, the United Way of Central Indiana, and the James Whitcomb Riley Memorial Association.
Widow Bren Simon and her stepchildren finally managed to settle a long legal battle over the estate of mall magnate Melvin Simon. The goal that appears to have united the survivors: Reducing Uncle Sam’s take of a fortune that has swelled to nearly $3 billion.
Simon Property Group Inc. has settled a dispute with the estate of its late founder Melvin Simon, converting his ownership units into common shares and selling them for $944 million.
The Indiana Court of Appeals ruled Bren Simon doesn’t have legal standing to challenge a judge’s decision not to recuse himself from overseeing the court fight over her late husband Melvin’s $2 billion estate.
Bren Simon lost control over her late husband’s multibillion-dollar estate, but she sold a New York City condo for $48M in March, and is trying to sell a mansion in L.A. for $50M.
The Indiana Court of Appeals has dismissed Bren Simon’s petition seeking to reverse a lower court’s ruling that removed her as interim trustee of her late husband’s $2 billion estate.
The Indiana Court of Appeals has agreed to hear an appeal from the widow of the late Melvin Simon, putting on hold a legal dispute over the mall magnate's more than $2 billion estate.