John P. Angelos, the chairman and CEO of the Orioles, is decrying that his brother took what he calls “the nuclear option” of filing suit over a dispute in how to handle their father’s assets.
In several filings Wednesday in Baltimore County Circuit Court, John Angelos denied the allegations that his brother, Louis F. Angelos, made about him in a lawsuit in June: that he sought to seize control of the Orioles and other assets of their father, Peter G. Angelos, as he fell ill and eventually became incapacitated in recent years.
“Lou apparently saw his father’s deteriorating condition as the perfect opportunity to take what he felt he deserved, but not what he was entitled to, under Peter’s estate plan,” according to one motion.
It goes on to accuse Louis Angelos, 53, of basing his suit on “unfounded accusations and fictitious conspiracy theories” that his brother and mother sought “to harm him and his expected inheritance from the estate of his father.
“Nothing could be further from the truth,” the motion said.
Attorneys for John Angelos and Louis Angelos did not immediately respond to requests for comment.
The filings come in the wake of a suit filed earlier this week by Georgia K. Angelos, 80, the family matriarch, who has sided with her older son in the family dispute. Her suit said Louis Angelos, who had been managing his 93-year-old father’s law firm in recent years, sold the practice to himself in what amounted to financial elder abuse.
John Angelos, 55, is seeking to dismiss his brother’s claim that he and their mother fraudulently transferred some of Peter Angelos’ multimillion-dollar real estate portfolio into an entity that they controlled. Louis Angelos’ suit said this violated his father’s intention that his sons share equally in those assets.
But John Angelos’ motion argued that the properties were not a part of the trust that his father created, and in which assets like the Orioles have been placed. Rather, the vast majority of the properties are held jointly in their parents’ names, and Peter Angelos’ designation of his wife as his “attorney-in-fact” indicates he wanted her “to have the right to handle the properties as she saw fit.”
Included in the filings is an affidavit by Georgia Angelos in which she says she was advised by tax planners that because many of the properties were vacant and operating at a loss, keeping them in the couple’s names “carried significant income tax problems.”
Among the properties at issue are buildings in Baltimore County and downtown Baltimore, as well as the former Bocaccio’s Restaurant that was one of Peter Angelos’ favorite dining spots.
John Angelos’ motion also seeks to dismiss his brother’s claim of inheritance interference as premature because their father is still alive. Additionally, according to the motion, Louis Angelos has not provided evidence that John has damaged Louis’ relationship with their father.
In another filing, John Angelos goes through each claim in his brother’s lawsuit, which was filed June 9, to state whether he agrees, denies or has insufficient knowledge to state either way. John Angelos disputes how he was characterized in the suit: as a power grabber who forced out those loyal to his father, such as outfielder-turned-team vice president Brady Anderson; intimidated his mother into acquiescence; and threatened his brother with his inheritance when he pushed back.
The bruising feud within the family of the Orioles owner is unfolding in stark contrast to the team’s rising fortunes.
After a yearslong drought, the Orioles are delighting their long-suffering fans with an unexpected run for a playoff spot. In his filings, as Georgia Angelos’ suit did, John Angelos is credited with leading the O’s to this point. His documents say he put together a senior leadership team that includes General Manager Mike Elias, whose rebuilding of the organization is paying off in the exciting young talent on the field and in a farm system ranked among the top in its sport.
Source: Berkshire mont