ESTATE OF CHRISTO BYRON PAPPAS, Deceased

ESTATE OF CHRISTO BYRON PAPPAS, Deceased (03/2184) — The executors of the estate of Christo Byron Pappas renew their request for permission to compromise various claims (SCPA §1813). This court previously denied such application without prejudice to renew upon the submission of additional information that would permit the court to evaluate whether the proposed settlement was in the best interests of the estate (Matter of Pappas, 36 Misc 3d 1204[A], 2012 NY Slip Op 51189[U] [Sur Ct, NY County 2012]). Such information has now been submitted. Of the more than 35 beneficiaries under decedent's will, only Laura Candela, a devisee of certain real property and a six percent residuary beneficiary, objects. The parties have stipulated that the court may decide the matter on the papers submitted.

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ESTATE OF CHRISTO BYRON PAPPAS, Deceased (03/2184) — The executors of the estate of Christo Byron Pappas renew their request for permission to compromise various claims (SCPA §1813). This court previously denied such application without prejudice to renew upon the submission of additional information that would permit the court to evaluate whether the proposed settlement was in the best interests of the estate (Matter of Pappas, 36 Misc 3d 1204[A], 2012 NY Slip Op 51189[U] [Sur Ct, NY County 2012]). Such information has now been submitted. Of the more than 35 beneficiaries under decedent’s will, only Laura Candela, a devisee of certain real property and a six percent residuary beneficiary, objects. The parties have stipulated that the court may decide the matter on the papers submitted.

The following is a brief discussion of the history of this estate and the claims at issue. Decedent died on June 6, 2003. Under his will, probated in this court, he left his estate, worth approximately $31,700,000, to family, friends and various employees of Byron Chemical Company, Inc. (“Byron Chemical”), the company of which he was the founder and majority shareholder. Letters testamentary issued on October 23, 2003, to Robert H. Groman, Helga Hensing, and Ms. Candela, the last of whom resigned with court permission a year later (Matter of Pappas, NYLJ, Nov. 18, 2004, at 31, col 4 [Sur Ct, NY County 2004]).

ESTATE OF CHRISTO BYRON PAPPAS, Deceased

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