ESTATE OF HARRY RODMAN, Deceased

ESTATE OF HARRY RODMAN, Deceased — In this SCPA 2103 proceeding the petitioning co-executor David Gould, a grandnephew of the decedent, seeks to set aside the transfer by the decedent of his 50 percent interest in the respondent Aurora Gems, Inc. to the other respondent, the decedent's stepson Alan Bronstein (collectively, the respondents). After a 10-day bench trial the parties submitted post-trial briefs. Prior to reviewing the testimony of specific witnesses, pertinent facts gleaned from documents in evidence or apparently uncontested will be noted.

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ESTATE OF HARRY RODMAN, Deceased — In this SCPA 2103 proceeding the petitioning co-executor David Gould, a grandnephew of the decedent, seeks to set aside the transfer by the decedent of his 50 percent interest in the respondent Aurora Gems, Inc. to the other respondent, the decedent’s stepson Alan Bronstein (collectively, the respondents). After a 10-day bench trial the parties submitted post-trial briefs. Prior to reviewing the testimony of specific witnesses, pertinent facts gleaned from documents in evidence or apparently uncontested will be noted.

The decedent and Bronstein incorporated Aurora Gems in 1986 for the purpose of buying and selling diamonds and gemstones. The same number of shares were issued to the decedent and Bronstein, the only shareholders. The primary tangible assets of Aurora Gems are two collections of fancy colored diamonds known as the “Pyramid of Hope” and the “Butterfly of Peace,” and both collections have been prominently exhibited in many museums around the world. The decedent provided the funds to purchase most of the diamonds that comprise the collections and Bronstein selected all of the diamonds. Bronstein’s mother, Jeanette, was Aurora Gems’ bookkeeper and, after the decedent’s first wife died, the decedent married Jeanette in August, 2001. The transfer at issue occurred on or about October 6, 2006, about one year and four months before the decedent’s death at the age of 99 on February 24, 2008. The decedent was the first president of Aurora Gems and Bronstein became president on October 7, 2002.

ESTATE OF HARRY RODMAN, Deceased

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