Bing Estate Update

The following update of the Bing Estate which I covered here and here is provided through the courtesy of Prof. Naomi Cahn who, along with Mary Kate Hunter, also procured the linked court order:

A Los Angeles court has decided on the interpretation of the term “grandchild” in Peter Bing’s trust, finding that the children of Steven Bing with  actress Elizabeth Hurley and former tennis player Lisa Bonder could qualify as trust beneficiaries.  The court held:  “In conclusion and as stated above, the term “grandchild” in the Trusts is clear, unambiguous and not reasonably susceptible to another meaning when each of the Trusts is read as a whole. Thus, no extrinsic evidence is required to interpret the Trusts’ use of the term “grandchild.” Trustee’s interpretation is unreasonable and not entitled to deference. Upon this ruling as to extrinsic evidence, the court further finds that Beneficiaries Hurley and Kerkorian are beneficiaries of the Trusts if they are biologically born children of Settlor’s child.”

More information here: Download Bing_Filing.