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New lawsuit: Orioles proprietor Peter Angelos’ son, Louis Angelos, has sold his father’s legislation company. To himself.


The spouse of Orioles operator Peter Angelos claims in a lawsuit submitted on Tuesday that their young son, Louis Angelos, has sold his father’s legislation company, which above the a long time has gained billions of bucks for victims of asbestos and tobacco, for a price tag to be established afterwards.

The purchaser: Louis Angelos himself.

Ga K. Angelos’ claim, in Baltimore County Circuit Court docket, comes two months immediately after she and her more mature son, John, 55, the O’s chairman and CEO, had been sued by Louis Angelos, 53, around regulate of the baseball, legal and genuine estate empire built by the now-ailing family patriarch.

Peter Angelos, 93, has been incapacitated for several a long time, and his wife’s authorized action intensifies the family members feud unveiled in their son’s lawsuit. That match, which also confirmed that the family is thinking about offering the Orioles, portrayed John as plotting to consolidate his electricity about his father’s belongings, significantly the workforce, and intimidating their mom into acquiescence.

But Ga Angelos, 80, struck back on Tuesday, expressing it is Louis Angelos whose perform has been so “nefarious” that it constitutes “elder abuse” of his father.

“It is Lou who surreptitiously seeks to abscond with Peter’s legacy,” her match stated. “The only smaller blessing is that Peter lacks the ability to comprehend this betrayal.”

Ga Angelos is in search of to have Louis Angelos eradicated as a co-agent less than Peter Angelos’ electric power of lawyer terms and to invalidate the purported sale of the legislation firm.

In her go well with, Ga Angelos petitions for damages towards her son underneath the state’s Statute Versus Monetary Exploitation, or Harmless Act, which the Normal Assembly handed past 12 months.

“It is difficult to conceive of a extra flagrant act of money exploitation of a susceptible adult than that which was perpetrated by Lou from his personal father,” the accommodate states.

Tuesday’s filing lifts the curtain further on the behind-the-scenes fight unveiled by Louis Angelos’ lawsuit, which place one particular of Maryland’s most prominent, but private, people in a severe spotlight.

Amongst the allegations in Georgia Angelos’ accommodate are that her spouse stated he did not want his legislation business to outlive him, and he also thought the Orioles should be bought soon after his dying. Peter Angelos experienced stopped going to the office environment in the summer season of 2018, and Louis Angelos had been running the follow, although — as with the other legal professionals who operate at the firm — he was not made a husband or wife.

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“The organization had been developed as an asbestos powerhouse that specialised in asbestos litigation, and Peter was effectively conscious that asbestos litigation was in its dying stage,” according to Georgia Angelos’ fit. “It could only live off all those circumstances for so extensive.”

He also felt the crew “should be offered on his loss of life so Ga could love the wonderful wealth they experienced amassed together,” his wife’s submitting reported. But, the court doc ongoing, he also believed any sale of the crew should be his wife’s choice to make.

Also, her fit seeks to shut down a rumor that has circulated in town and that Louis Angelos floated in his lawsuit — that his brother sought full command of the Orioles to probably transfer the team to Tennessee, where he has a residence in Nashville and his spouse is in the songs organization.

“In a clear effort and hard work to transform public opinion towards John, Lou planted a fake tale in the press that John plans to transfer the crew to Nashville,” the suit said. “John has no intention in any way of transferring the Baltimore Orioles to Nashville.”

The match repeated earlier statements by John Angelos, who is the Orioles chairman and CEO, that the team will continue being in Baltimore “as extensive as Fort McHenry is standing observe about the Interior Harbor.”

The fit was filed by Ga Angelos’ legal staff, which features Adam F. Streisand, a Los Angeles based-lawyer who has litigated scenarios involving the estates of superstars including Michael Jackson, and represented get-togethers in disputes more than manage of pro groups such as the Lakers, Clippers and Chargers.

“Lou is unfortunately not capable of the disgrace he really should come to feel for falsely and maliciously smearing his mom at these a complicated time in her existence,” Streisand reported in a assertion to The Baltimore Sunshine. “Even even now, Georgia did not want to have to tell the earth the fact about Lou … But he gave her no option. So now it is time for the real truth to arrive out.”

Georgia Angelos, who has previously produced a assertion by way of the Orioles standing by John Angelos, depicted him in the filings as a profitable staff operator. The accommodate notes how the team’s rebuilding method has started to reap rewards, significantly with a farm method that is rated 1st in the majors.

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“In small, the staff is now managing like a nicely-oiled machine, and it is situated to move on a sale when the time is proper,” in accordance to her suit.

The go well with stated Louis Angelos’ has resisted winding down the legislation firm’s operations. He experienced refused to share facts of its finances, the submitting reported, and when John Angelos eventually attained some information and facts in August 2020, he uncovered it had not paid rent in 11 months. Additionally, the files say, the firm’s gains mostly arrived from annuities established up following previous asbestos victories, “which would eventually operate out.”

With Ga Angelos functioning to sell the firm with the assist of a family pal, Kenneth Feinberg, identified for administering the far more than $7 billion fund for victims of the Sept. 11 terrorist attacks, the petition explained “time was running out for Lou, and he had to make a shift.”

That, in accordance to the accommodate, was to offer the agency to himself.

On June 8, the working day ahead of he submitted his go well with, Louis Angelos sent a letter by way of his attorney to his mom indicating that as his father’s agent, he experienced transferred the firm’s fantastic stock to himself. He hooked up files that included Peter Angelos’ resignation from the law company, which he signed as his father’s agent, and a purchase agreement that he also signed on his father’s behalf, selling the firm to himself in trade for a promissory note.

Ga Angelos’ accommodate mentioned that “of course” Louis Angelos can not act as his father’s agent simply because Peter Angelos transferred his electrical power of legal professional to his spouse. Their sons are successor co-brokers who would consider about only if Georgia Angelos cannot satisfy her obligations.

“The transaction was not a sale at all it was a theft, pure and easy,” her petition said.

“How considerably did Lou fork out for the Legislation Business?” the filing requested rhetorically. “Absolutely absolutely nothing.”

In accordance to one particular attachment, the purchase price would be founded later by an appraiser from the legislation firm’s typical accounting business, or just one selected by it. In other phrases, an individual either paid out by Louis Angelos or selected by the accounting agency paid out by him, Georgia Angelos’ accommodate reported. The payment was given a due day of June 8, 2037, “meaning it is unlikely Georgia or Peter will ever see a dime of funds from Lou.”

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