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Louis Angelos sells Peter’s Law Firm to himself per The Baltimore Sun

Roll Tide

By Roll Tide
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paullwaull AAA

paullwaull

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9 minutes ago, Roll Tide said:

Relocation is not in the cards.

I haven't followed it all enough.  From a logical perspective given the history, market type, and others who should/would relocate first, I don't think they would ever move.  But given the leagues disdain for the team (hopefully more specifically the family) and the whole masn situation, I could see some shady business  happening somehow.

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Gurgi
Gurgi

This story fills me with trepidation.  For decades many of us wanted Angelos to sell the team and stop his meddling.  Now however with the minor leagues humming like a well oiled machine and seeminly

Frobby
Frobby

I can’t read this article behind the paywall, but I do want to explain, for anyone who doesn’t know, that non-lawyers cannot own any equity interest in a law firm in Maryland.  Hence, neither Georgia

Frobby
Frobby

Sure, that’s why the team has had 7 winning seasons in the 28 years he’s owned the team, despite playing in a ballpark that was sold out for every game before he arrived.   It wasn’t horrible that he

Sports Guy Hangout Grand Counsel

Sports Guy

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13 minutes ago, paullwaull said:

I haven't followed it all enough.  From a logical perspective given the history, market type, and others who should/would relocate first, I don't think they would ever move.  But given the leagues disdain for the team (hopefully more specifically the family) and the whole masn situation, I could see some shady business  happening somehow.

So, you think the league has disdain for the team but would then approve them to move?

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Gurgi Hangout Grand Counsel

Gurgi

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This story fills me with trepidation.  For decades many of us wanted Angelos to sell the team and stop his meddling.  Now however with the minor leagues humming like a well oiled machine and seeminly Elias is doing amazing the thought of changing owners makes me fear they would remove Elias and we could have more decades of misery.  

Things could always get worse with an ownership change.  

Edited by Gurgi
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NashLumber Hangout Grand Counsel

NashLumber

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From that Sun article archive. I don't see how Lou will get away with this. Sounds like a loose cannon to say the least. And his mom Georgia sounds like a sharp litigator herself.  

"On June 8, the day before he filed his suit, Louis Angelos sent a letter through his lawyer to his mother saying that as his father’s agent, he had transferred the firm’s outstanding stock to himself. He attached documents that included Peter Angelos’ resignation from the law firm, 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 exchange for a promissory note.

Georgia Angelos’ suit said that “of course” Louis Angelos cannot act as his father’s agent because Peter Angelos transferred his power of attorney to his wife. Their sons are successor co-agents who would take over only if Georgia Angelos cannot fulfill her responsibilities.
 
“The transaction was not a sale at all; it was a theft, pure and simple,” her petition stated."
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Gurgi Hangout Grand Counsel

Gurgi

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I am starting to think Lou is cash poor and was depending on the rumored sale of the Orioles.  But it seems John and his mother were unwilling to sell just yet and Lou seems desperate for money from the sale and is attempting to force their hands.  

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OriolesMagic83

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1 minute ago, Gurgi said:

I am starting to think Lou is cash poor and was depending on the rumored sale of the Orioles.  But it seems John and his mother were unwilling to sell just yet and Lou seems desperate for money from the sale and is attempting to force their hands.  

Maybe a settlement would be a fake O's Vice President position invented for Lou.  Wouldn't have to force him to get a job.  Gasp!

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NashLumber Hangout Grand Counsel

NashLumber

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28 minutes ago, OriolesMagic83 said:

Maybe a settlement would be a fake O's Vice President position invented for Lou.  Wouldn't have to force him to get a job.  Gasp!

He could have moved into that position after Brady Anderson was dismissed, right? 😉

Edited by NashLumber
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Frobby Hangout Grand Counsel

Frobby

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I can’t read this article behind the paywall, but I do want to explain, for anyone who doesn’t know, that non-lawyers cannot own any equity interest in a law firm in Maryland.  Hence, neither Georgia nor John (who has a law degree but apparently never passed the bar) is capable of owning any part of the law firm.   I don’t understand what authority Lou has to sell the firm on Peter’s behalf, or why the key lawyers in the firm would accept Lou having all the equity when he’s not the lawyer or force of nature that his father was.  

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OsFanSinceThe80s Hangout Grand Counsel

OsFanSinceThe80s

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7 minutes ago, Frobby said:

I can’t read this article behind the paywall, but I do want to explain, for anyone who doesn’t know, that non-lawyers cannot own any equity interest in a law firm in Maryland.  Hence, neither Georgia nor John (who has a law degree but apparently never passed the bar) is capable of owning any part of the law firm.   I don’t understand what authority Lou has to sell the firm on Peter’s behalf, or why the key lawyers in the firm would accept Lou having all the equity when he’s not the lawyer or force of nature that his father was.  

Archived link if you want to read it:

https://archive.ph/AdPAb

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accinfo All-Star

accinfo

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8 minutes ago, Frobby said:

I can’t read this article behind the paywall, but I do want to explain, for anyone who doesn’t know, that non-lawyers cannot own any equity interest in a law firm in Maryland.  Hence, neither Georgia nor John (who has a law degree but apparently never passed the bar) is capable of owning any part of the law firm.   I don’t understand what authority Lou has to sell the firm on Peter’s behalf, or why the key lawyers in the firm would accept Lou having all the equity when he’s not the lawyer or force of nature that his father was.  

I have a feeling there isn't much of a law practice left of value to own.  This is another bizarre twist in this saga.  I would think any of the lawyers with loyal clients will bolt from this drama.  

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