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The estate's trustees control the property business, via Grosvenor Group Limited Wheatsheaff, a food and energy business, which runs the farms; a fine art collection and a series of cash investments; rural land holdings in Lancashire, Sutherland and Wales; and the family seat at Eaton Hall near Chester.
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The settlement gives the trustee control of $177.6 million in claims made by Wilpon and Katz, their companies, their employees, their families and other parties, to be reimbursed for losses that were sustained in their scores of Madoff accounts.
He added, "Until the board of trustees takes control and prevents these few select officers from continuing on this path, the fragile financial and artistic structure of A.B.T. will continue to be terribly undermined".
The exultation was as pungent as the aroma from the chocolate factory on Cocoa Avenue today as residents and workers in this ultimate company town saw the trustees who control Hershey Foods suddenly retreat from their plan to sell the company, the nation's largest candy maker.
The board of directors for the Canadian Football Hall of Fame act as the Grey Cup's trustees and control its rental for events.
After the Child Friendly Schools (CFS) project of Vanuatu Education and UNICEF supplied the station with two transmitters, the local board of trustees took control of the administration, programming, and direction of the station.
Another lawyer for the trustee, Josiah Trager, responds that the process is "dependent on so many variables outside the trustee's control.
The board of trustees, which controls the president's fate, has so far stood behind him.
BaFin appointed a trustee to control E-Clear's voting rights.
If the court decides on reorganization rather than liquidation, it appoints a trustee to control the firm and to prepare a formal plan of reorganization.
Separately, the judge presiding over Enron's bankruptcy case turned back a request from creditors to put a trustee in control of the company's finances.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com