Posted Thursday, August 8, 2013 8:53 AM | Contributed by Jeff
An agreement meant to keep a popular amusement park in the family has sparked a bitter dispute that has reached the Indiana Court of Appeals. Lori Koch, Will’s widow, and Dan Koch are fighting over the share price of the business under terms of a buy-sell agreement between the brothers. Both sides told the court that the purpose of the agreement was to keep Holiday World in the Koch family.
Read more from The Indiana Business Journal.
Based on comments from two of the judges in the article, it seems as if they are (initially at least) siding with Lori Koch.
"(Judge) Baker asked, since he had bought a Buick in 1974 for $3,500, was the automaker obligated to sell him another car at the same price?"
"(Judge) Mathias countered that Dan Koch is an attorney. Issues do not always come when it is convenient for the attorney, he said. When Dan Koch stepped into the leadership role at Holiday World, he had an obligation to meet in 180 days."
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