October 24, 1986 |
A federal judge in Camden has ordered the holders of the controlling block of stock in Resorts International to appear in court Monday. The group, heirs of late Resorts chairman James M. Crosby, didn't show up at the courthouse yesterday for scheduled preliminary proceedings on a suit filed against them by other Resorts investors. The suit alleges that the defendants gave Resorts' shareholders "deceptive and misleading" information and failed to consider valid offers for their Resorts holdings.
February 25, 1994 |
A year before he died, Lewis W. Ascah recalled how the big bosses at Crown Cork & Seal would often praise him at board meetings for doing "a good job" as a vice president and director of purchasing. "I was in work at 7:30 in the morning, stayed late, worked Saturdays, and the vast majority of that effort was for Crown Cork & Seal," Ascah testified in a deposition to Crown representatives. By then, his bosses knew that Ascah had taken more than $5.7 million in kickbacks from companies that sold goods and services to Crown, a Philadelphia-based can and container maker with more than 14,000 employees and $2 billion in sales a year.
May 18, 1989 |
Pennsbury Township supervisors Monday night gave preliminary approval to a subdivision plan from Harold Haskell, who wants to carve out 3.4 acres from a 1,200-acre tract for his heirs. But the supervisors said final approval would wait until they saw a sketch plan for the entire piece of land. "We have a responsibility to have some idea of what his plans are," said Supervisor William Reynolds, calling the Haskell tract - at Cossart Road and Route 100 - "the most important piece of undeveloped land in the township.
August 25, 1988 |
Middletown Township may have to pay as much as $1.25 million more than anticipated for the Darlington tract that it acquired as part of its Project 300 open-space program. A jury of view appointed by Delaware County Court has determined that the 177-acre Darlington tract is worth $2.75 million. The township paid $1.5 million for the property that it condemned in May 1987. "We were disappointed with the figure of $2,750,000 because the township's appraisal was $1.5 million," said council President Larry Hartley.
October 19, 1989 |
The West Whiteland Board of Supervisors agreed Monday to give up a right of way through a township park so the heirs of Henry Waltz could sell their landlocked property. Harvey and John Waltz, sons of Henry Waltz - after whom the township park is named - agreed to pay $15,000 in exchange for the access way to their 30- acre tract. The Waltz brothers have been trying to sell the land, which was part of their father's estate, since the 1970s. Township manager Steven Ross said the money likely would go to offset some of the cost for relocating two Little League baseball fields in the park.
October 2, 1986 |
It was quiet at 5 p.m. Tuesday in Dallas. So quiet that phones began ringing in Philadelphia a few hours later. The 5 p.m. deadline marked the expiration of a $100-a-share offer by Pratt Hotel Corp. of Dallas - which owns the Sands Casino in Atlantic City - to buy controlling shares in Resorts from the heirs of late Resorts chairman James M. Crosby. The bid could have totaled as much as $109 million for all outstanding Class B shares. "I received no response at all, and it was earth-shattering to think I was treated so cavalierly," said Jack Pratt Sr., Pratt chairman.
October 9, 2010 |
A New York real estate tycoon has been ordered by a Bucks County judge to pay $10 million to the heirs of the late Philadelphia landlord Samuel Rappaport. Richard Basciano, a real estate investor the New York Times once called "the undisputed king of Times Square porn," had been close to Rappaport. Before he died in 1994, Rappaport named Basciano the executor of his estate. Rappaport's extensive holdings included the old Philadelphia Saving Fund Society bank on Walnut Street and other vacant and decaying Center City landmarks, former Reading Co. properties, Atlantic City's sewer system, properties on the Boardwalk, parking garages, a Florida resort, and a prime building site adjoining the University of Delaware.
June 2, 1995
A battle is brewing in Harrisburg, pitting bankers against folks with trust funds. Hmmm. Hard to know whom to root for: the pinstriped trolls who charge $30 for a bounced check or the Social Register types for whom a financial pinch means the groundskeeper must be let go. Stereotypes aside, there's a real issue here. Some banks do do a lousy job of handling trusts that affluent people set up for relatives and (in many cases) charities. Some banks don't do a great job of investing the funds, or letting beneficiaries know how the trust is doing.
April 15, 1987 |
The heirs of the late state Treasurer R. Budd Dwyer could collect a lump sum of $1.2 million from the state pension fund as a death benefit to settle Dwyer's pension claims, according to government sources. The State Employees' Retirement Board, which is scheduled to vote on Dwyer's pension today, was informally told by its attorneys last month that the treasurer's heirs were entitled to his pension despite his conviction in a computer-contract bribery case and his subsequent suicide.
May 11, 1987 |
You can't blame a guy for trying. So, even though Provident National Bank acknowledged that it had no legal right to the cash, the bank risked a 22-cent stamp and wrote Joan Smith asking for $16,000 from her share of an inheritance. Her brothers got similiar letters. In all, Provident asked the heirs of Isidor P. Strittmatter for $48,000 above the fees the bank had agreed to accept for managing a trust set up by their grandfather before his death in 1938. "They must be crazy," said Tony Smith, Joan's husband.