CBGB heirs embroiled in fight

The ownership of the underground rock club, CBGB (New York), is currently in dispute.

Here is the sequence of events based on Ben Sisario, Family Discord Over Spoils From the Punk Shrine CBGB, NY Times, Dec. 4, 2008:

• Hilly and Karen Kristal were married and divorced sometime prior to 1973.
• Hilly and Karen opened CBGB in 1973.
• They agreed to place the club in Karen’s name because Hilly had recently declared bankruptcy.
• Both Hilly and Kristal worked at the club for decades.
• In 2005, Karen signed over ownership of CBGB to Hilly.
• Hilly entered into an agreement to sell CBGB’s assets and trademarks to CBGB Holdings LLC for $3.5 million.
• Hilly died in 2007.
• Hilly and Karen’s daughter, Lisa, is the primary beneficiary of Hilly’s will receiving assets valued at over $3 million.
• Hilly and Karen’s son, Dana, will receive no more than $100,000 under Hilly’s will.
• Karen claims she is still the true owner of CBGB because she cannot remember signing over ownership to Hilly because she suffers from hydrocephalus which impacts short-term memory.
• Karen also claims that if she really did sign the agreement, Hilly and Lisa deceived her as to the proceeds received from the sale of CBGB merchandise.
• CBGB Holdings LLC has recently been made a party to Karen’s lawsuit.