After the debtor converted his case to chapter 7, the trustee commenced an adversary proceeding seeking a declaration that the two properties were exclusive property of the bankruptcy estate. Katz National Television, which represented independent stations, was folded into the Katz Television Group. He became assistant radio sales manager in 1964 and, within two years, was promoted to sales manager of the radio division. It had 65 sales offices across the United States. Hilsen a 100% interest in one of the three real estate properties and a 50% interest in a second. Claiming that the values he received were inadequate and understated, Allen brought suit in the United States District Court for the Southern District of New York before Lee P.
To read the entire case, you must purchase the decision for download. Katz management indicated that it believed an alliance with a media company was necessary for the company's long-term well-being and stability. In September 1993 Katz Hispanic Media began representing the seven radio stations owned by Spanish Broadcasting System. First, Goulazian allegedly informed Allen that in May 1978 Frank McCann, executive vice president of Katz and a member of the board of directors, had told Goulazian that a study was being made in order to revalue Katz stock at its fair market value. Address: 125 West 55th Street New York, New York 10019 U. Accordingly, this court will lift the automatic stay to allow Ms. Greenwald, Former Chief Executive Officer at Katz Media Corp.
Then she zeroed in on getting him divorced. In New York, a final judgment in a marital action by a court of competent jurisdiction determines the rights between the parties. He had a good run! David Fleischer, New York City Charles Burton, Timothy P. Data is sometimes entered poorly, processed incorrectly and may not be free from defect. He takes and returns calls promptly. Katz here claims no exemption for any otherwise prohibited transaction, and only the federal government, not Allen, would stand to gain if Katz did. Donations in his memory may be made to the Humane Society of New York 212-752-4842.
To develop their brands nationally, manufacturers needed to advertise them in different cities across the country. The only direct evidence of the directors' consideration of the value of Katz stock credited by the trial court, however, was Allen's testimony about an alleged conversation with Jones on Marco Island in 1974 concerning the market value of Katz stock. In 1976 Katz began its in-house data processing operation, Media Data, which later became an important sales tool by providing online computing services to the radio and television stations that Katz represented. Son of Lester David and Ruth Amelia Leberman Greenwald. Her employment was terminated in 1964 when she was in her seventh month of pregnancy. The case was tried without a jury and the court after making extensive findings of fact rejected all claims except the claim that the Plan, by its express terms as amended in 1978, retroactively entitled Allen to the fair market rather than the book value of the stock in his company account.
On April 15, 1991, at a hearing held before Judge Goodman the parties agreed to continue the automatic stay and defer an evidentiary hearing pending a determination as to whether the property awarded to Ms. Since March 1989, she has been a consultant with Barham and Partners, an advertising agency. We hold that the property awarded Ms. Accordingly, this court will lift the automatic stay to allow Ms. The completion of the in 1869 enabled manufacturers to sell their products nationally, and the concept of a national brand was born.
The company had failed to meet Wall Street's earnings expectations, due in part to ownership consolidation of radio and television stations. On April 15, 1991, at a hearing held before Judge Goodman the parties agreed to continue the automatic stay and defer an evidentiary hearing pending a determination as to whether the property awarded to Ms. Greenwald was but a judgment lienor as of the filing. Again, the Debtor moved before the appellate court for reargument or, alternatively, for leave to appeal to the Court of Appeals and for a stay pending appeal. For instance, the wife participated in the formulation of a strategy to secure the necessary votes for him to be elected to the presidency of Katz. The court believed the defendants' witnesses' denials that they were certain the book value of Katz stock grossly understated its fair market value and that there was a preconceived plan to change to fair market value.
He seems to have a good working relationship with everybody at the courthouse. Kelso , an investment banking company, which was thereafter retained to conduct an operations audit of the Katz Plan and to appraise the value of Katz common stock. Greenwald chose to enforce her already vested property rights by way of an execution on the debtor's bank accounts does not transform the rights conferred upon her in the Judgment of Divorce into nothing more than a secured claim. Unlike the husband, the court held, the wife had essentially maintained dual roles during the marriage. All content provided is deemed to be in the public domain. In mid-1999 Katz launched a sports marketing division, Sports Spectrum, to represent athletic teams and sports venues.
I cannot agree with the debtor's position that Ms. During the 1980s media representation firms were consoli-dating. Our website includes the first part of the main text of the court's opinion. Since the court's decision was not rendered until five months after the trial's conclusion -- during which time the husband allegedly suffered a substantial change in financial circumstances due to market conditions beyond his control -- and was incorporated, he claimed, into the judgment without consideration of the attendant tax implications, resulting in a financial windfall to the wife well in excess of 50% of the marital assets awarded, the husband moved for renewal, reargument and reconsideration as well as a reopening of the trial and modification of the decision so as to rectify the judgment's inequities. Katz and London-based International Media Sales formed Katz International Ltd. Profit Sharing Plan for Employees of Howard B. The standard 15 percent commissions in some cases fell as low as seven percent, due to intense competition for station clients.