Steve Cohen

I spoke with Steve Cohen today about the Brickman case.  Steve told me the following:

 

1.    Harry, as accountant for International Charitable Interests II, would be much less helpful as a witness than you, the actual trustee of the Trust.

2.    Failure to testify could result in Judge making a negative inference about what you knew regarding the limited partnership's solvency at the time that you received your distributions from the limited partnership

3.    Outstanding judgment is for $1.2 MM, but with interest, Steve believes the total amount due is almost twice that amount.

4.    The trial is scheduled to begin on October 15th. 

5.    If you testify, Steve said that you would not likely have to appear until October 16.

6.    Steve would like to go over your testimony the night before your appearance (i.e., the night of October 15) and wanted to know if you would be in town.

7.    The trial is to take place in Stanford CT.

8.    Your direct testimony would be fairly limited and should not require your presence beyond October 16.

9.    Tomorrow there is a mediation scheduled and Steve wanted to know if there was an amount you would be willing to kick in to settle the case, so as not to have to move forward.  If you kick in the amount, you would not likely get it back from Brickman who would be participating in the mediation as well.  Also, the plaintiff's original lawyers who are being sued for malpractice will also be participating as a party to the lawsuit and could conceivably chip in some amount to make the case go away.  Steve just wants to be able to reach us tomorrow if the question of whether you are willing to put up any funds (and if so, how much) arises.

10.    As far as Brickman is concerned, he did promise that you (i.e., the Trust)  would not be responsible for any money owing to the plaintiff.  But that was a few years ago and my guess is that if judgement is rendered against the Trust, you would have to sue Brickman to recover on the indemnity.