A court has granted the executors of the Leona HelmsleyEstate, including Alvin Rosenthal, David Panzirer, Walter Panzirer, SandorFrankel, and John Cody, $900,000 each to work on the estate. In other words,the executors of the estate have earned $4.5 Million this past year alone to managethe estate. The state Attorney General contended that the amount the executorswere earning was too much, but the court held that the executors should receivea higher amount because of the complexity of managing the estate and the amountof money that was being managed. It is believed that the estate is worth morethan $5 Billion over a wide variety of assets.
See Dareh Gregorian, Helmsley Estate Executors Allowed to PayThemselves $4.5 M, New York Post, Sept. 18, 2012.
Special thanks to JimHillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this articleto my attention.
