Amanda DiChello, a member of Cozen O'Connor's Private Client Services Practice Group, discussed in Wealth Management the recent lawsuit involving Roger and Brian Corman. The Corman brothers’ complaint raises a few questions. For one, Goldman Sachs was appointed as trustee pursuant to a prior settlement (in which Julie and Roger agreed to resign as trustees) but isn’t named a party to the current action. As DiChello points out, “Goldman Sachs, as trustee, has a duty to ensure the protection of the trust’s assets” and therefore would typically be the party to bring the action on the beneficiaries’ behalf. As far as whether the irrevocable trust actually owns the films, the complaint states that due diligence conducted with the U.S. Copyright office demonstrates that the trust does indeed hold those rights. DiChello believes that “they’re relying on such records as proof, although it’s not entirely clear.”
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