The widow of Melvin Simon wants to recover more than $21 million in federal taxes she paid. Her brother-in-law, Indiana Pacers owner Herb Simon, sees things differently. As expected, the matter is in litigation.
Herb Simon has asked a court to declare that his late brother’s estate, and Melvin Simon’s widow, Bren, have no financial stake in the team.
Melvin Simon died in 2009. Shortly before his death, full ownership of the Pacers was transferred to Herb Simon under an agreement. The brothers purchased the Pacers in 1983 and were co-owners of the team.
Bren Simon is trying to recover over $21 million in federal taxes she was forced to pay after the reorganization of the Pacers ownership. She claims the $83 million her husband received from the reorganization was incorrectly interpreted as a gift by the Internal Revenue Service.
Herb Simon has asked the court to keep all documents about the matter under seal. Releasing the documents, Simon claims, would create “significant risk of substantial harm” to everyone who signed a confidential settlement in 2012 regarding Melvin Simon’s estate. A hearing on the request is scheduled for Oct. 16.
Documents indicate that Herb Simon wants a legal ruling that says “Melvin Simon Family Enterprises Trust, Bren Simon, nor any of their successors, assigns, owns or has any right, title, interest, or expectancy in or to Pacers Basketball, LLC.”
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