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Rupert Murdoch in secret legal battle with children over media empire
- donw 2y ago[flagged]
- neilv 2y ago[flagged]
- deleted 2y ago[deleted]
- stubish 2y agoYou give away control to a trust for tax benefits and legal protections. If Rupert can claw back control 'to protect the value of the trust’s holdings', I'd be surprised if other family members could not make the same argument. Maybe that is why this was a surprise to them.
- quantified 2y agoLove the legal treatment of "irrevocable"
- compsciphd 2y agoI mean that's why there's a "battle", if it was easy, there would be no battle. i.e. the trust can many times be changed via consent of the beneficiaries, the primary lever that Murdoch has to get beneficiary consent is other forms of assets that are not under said trust (ex: each child get 25% of this asset, without consent that can't change, but if there are many other assets, the benefactor can basically say, if you don't play ball, you won't get anything from the other assets, depending on the size of the other assets, that can be very persuasive).
- glimshe 2y agoLife imitates art... Has anyone seen HBO's "Succession"? An amazing series if you haven't.
- shalmanese 2y agoI mean, that's more life imitating art imitating life. The show was explicitly inspired by a Murdoch biography: https://nymag.com/intelligencer/article/succession-based-on-rupert-murdoch-drama.html https://nymag.com/intelligencer/article/succession-based-on-...