Application to dismiss epic Thyssen case
The epic family feud which has led to a legal battle between millionaire Baron Hans Heinrich Thyssen-Bornemisza de Kaston and his eldest son over a fortune worth $2.7 billion could be dismissed today, The Royal Gazette has learned.
For eight months the legal bills have been soaring as the father and son feud in open court each with a crack legal team -- the best money can buy.
The estimated cost so far for the court time alone stand at $12 million. This added to the estimated $15 million before going to trial adds up to $27 million on just one case.
And with predictions that the battle, with appeals and all, could take up to ten years to settle, it could end up going down in history as the most expensive court case the world has ever seen.
Now the corporate defendants have balked at the ever-growing price and have lodged an application to dismiss the action.
The 78-year-old Baron, called Heini Senior, is suing his son, Heini Junior, for control of a Bermuda-based trust fund.
Heini Senior, who has failing health, put his son in charge of the trust in 1983, but now wants to wrest back control. He also claims that his son and the fund he is also suing owes him $232 million in arrears with inflation and loss of value.
This motion will be heard in Supreme Court No. 3 -- specially built to hear the case -- this morning, a clerk confirmed.
Puisne Judge Denis Mitchell will hear the arguments from Nicholas Patten QC on behalf of Favorita Holdings, Thybo Trustees Ltd and Tornabuoni Ltd for an application to put forward a motion to dismiss.
Application to dismiss Thyssen case Justice Mitchell can then either throw out the motion and continue with the trial, or allow Mr. Patten to put forward his case to dismiss the action, which could take several weeks in court.
The case revolves around a series of trusts of Byzantine complexity with are holding entities for the sprawling Thyssen-Bornemisza conglomerate with interests in ships, glass, plastics, car parts, trading companies, agricultural machinery and information systems.
The trusts were set up in such a way as to avoid being dismantled by legal wrangles between his children after his death. But now, seventeen years on the Baron is accusing his son of prejudicing the interests of his four other children and is attempting to win back control over the trusts which he set up through Conyers Dill and Pearman.
Before even coming to court there were a set of appeals which lasted over a year and a half.
The trial involves about 17 lawyers, both in court and out, with reams of legal secretaries, clerks and support staff waiting in the wings.
Three of London's top salaried lawyers, who each earn more than 1 million a year are involved in the case and have moved to the Island.
These colourful characters are Alan Boyle, representing Heini Junior and Robert Ham and Michael Crystal, representing the Baron.
The case is being heard in the refurbished former Salvation Army building, Booth Memorial Hall, where the epic Bermuda Fire and Marine Insurance company was also heard.
Both BF&M and the Thyssen-Bornemisza were forced to spend $270,000 on the building to create two new courtrooms so their cases could be heard more promptly.
The conservative estimate of the cost of taking the case to court is estimated at $600,000 a week, and the case has been running since last October.