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Sammy Davis, Jr.'s Legacy
Highest Court N.D. Texas
Year Ended 2011
Plaintiffs Business Entity of Artist(s)
Estate of Artist(s)
Financial Institution(s)
Spouse of Artist(s)
Defendants Financial Institution(s)
Financial Professional(s)
Other Davis, Sammy (Jr.)
Short Description Sammy Davis, Jr., was undoubtedly one of the most iconic musical stars of the twentieth century, and his death left behind piles of money, royalties, and assorted enforceable rights for his family. After his death, Sammy's wife, Altovise, formed a corporation with Defendants, including a financial institution and its named owner, to handle the royalty income, publicity rights, etc., for the deceased star. In forming their corporation, the parties agreed that Altovise would transfer her interests to the new corporation, but that after five years she would be given the assets back in return for a payment of $1. After the time limit was reached and she tendered the required payment, Defendants refused to remit the properties and interests to Plaintiffs, which include Altovise's estate and assorted corporate and financial entities. Defendants argued that Plaintiffs could not enforce the terms of the agreements because Altovise had previously materially breached the contract by withholding royalties. The court denied Plaintiffs' motion to strike statements made by various Defendants, which were relevant to Defendants' equitable defenses. However, on Plaintiff's motion for a preliminary injunction preventing Defendants from continuing to exploit the contested assets while withholding payment to Plaintiffs, the court found that Defendants were indeed spending money belonging to the corporation, not paying Plaintiffs their 1/3 interest in the corporation's profits, and publicly declaring that Defendants owned all the corporation's assets. Defendants were enjoined from spending any more money or writing checks to anyone other than the court, from holding themselves out as owners of the assets, from selling or transferring shares in the company to anyone other than Plaintiff (or anyone at all). - LSW

Legal Issues
Business Associations Corporations Formation, Operation & Dissolution
    Ownership, Property & Assets
    Sale & Regulation of Securities
Civil Procedure Evidence Admissibility
  Interlocutory Orders Preliminary Injunction
Contracts Breach Payment & Performance
  Equitable Remedies Specific Performance


Opinions The Estate of Davis v. Laroda
2011 WL 1627000
N.D Texas , April 27, 2011 ( Civil Action No. 3:08_CV_0008_P )


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Related Searches Parties
Business Entity of Artist(s) ( Plaintiff )
Davis, Sammy (Jr.) ( Other )
Estate of Artist(s) ( Plaintiff )
Financial Institution(s) ( Plaintiff )
Financial Institution(s) ( Defendant )
Financial Professional(s) ( Defendant )
Spouse of Artist(s) ( Plaintiff )

Legal Issues
Business Associations / Corporations / Formation, Operation & Dissolution
Business Associations / Corporations / Ownership, Property & Assets
Business Associations / Corporations / Sale & Regulation of Securities
Civil Procedure / Evidence / Admissibility
Civil Procedure / Interlocutory Orders / Preliminary Injunction
Contracts / Breach / Payment & Performance
Contracts / Equitable Remedies / Specific Performance

Courts
N.D. Texas (highest court)


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