In light of the current situation, we are offering our clients the opportunity to meet with us virtually, rather than in-person. Please click here to contact us or call 800-756-5596 to schedule your appointment

Make Informed Decisions
About Your & Your Loved Ones' Futures
Based On Experienced Advice

~|chevron-down~|font-awesome~|solid

Challenges to Sumner Redstone’s Competency Continue

| Jun 6, 2016 | Uncategorized |

Another legal challenge on competency follows Redstone’s successful defense against charges filed by ex-girlfriend.

Media mogul Sumner Redstone was successful in defending himself against his ex-girlfriend’s charges that he was incompetent but The New York Times reports that the Viacom CEO and the Board of Directors are now also calling Redstone’s competency into question in “New Questions Arise Over Sumner Redstone’s Competency After He Alters Trust.”

If the ex-girlfriend would have won her case, she would have eventually inherited a fortune, but the real story is what would happen to control of Viacom and CBS when Redstone passes away.

Redstone has majority control over both companies through his theater chain, National Amusements.

The issue arose when Redstone removed Philippe Dauman, Viacom’s CEO, from the trust that will control Redstone’s businesses if he is declared incompetent or passes away. Dauman and the board claim the move was made after undue influence by Redstone’s daughter as she is trying to gain control of the companies for herself.

A lawyer who works for Redstone claims the move was made because Redstone is dissatisfied with Viacom’s performance.

Categories

Archives