BoS seeks to be freed from Estate tasks

The Bank of Saipan, executor of the Hillblom Estate, seeks to end its responsibilities over the multi-million estate left by Larry Hillblom, the American millionaire who died in a 1995 plane crash.

Attorneys for BoS notified the court about the Executor’s plan to file a comprehensive plan to close administration of the Estate, which involves, among other things, the distribution of all remaining noncash and cash assets according to the Heirship Settlement Agreement.

“All remaining claims by and against the Estate either have been resolved or in the case of Bassam Jabr Prince Saud, should be resolved shortly,” BoS said in a petition filed in the court Friday.

“All distributees should agree with the Court and the Executor that closure of this Estate is in the best interest of all parties,” it added.

In its petition, BoS asked that it be exonerated from the tasks of “asset marshaling, maintenance and disposition of noncash assets, tax activities and heirship litigation.”

BoS, however, deplores that despite its efforts to end all conflicts and finish the asset distribution task, at least two of the five beneficiaries, the Trust and David Moncrief, “chose to continue their disputes.”

“The challenge for the court, the Executor and the remaining distributees is how to proceed productively toward closure, given this opposition,” BoS said.

BoS filed the petition after Peter Donnici’s lodged a lawsuit against BoS and its attorneys at the San Francisco Court last week.

Donnici, an officer of the Trust, accused the Executor’s lawyers of charging the Estate “too much for their services.”

Donnici also alleged that the Executor “designed and carried out a conspiracy to deprive the Trust and its Trustees of the benefit of the Heirship Settlement Agreement.”

BoS said Donnici defied an earlier court order by bringing the lawsuit to a San Francisco Court.

BoS cited the Superior Court’s Aug. 5 order which directed all parties to file any claims or demands in the local court.

“Donnici deliberately brought claims belonging to the Trust in the wrong forum in defiance of this court’s jurisdiction and in defiance of this court’s order,” BoS said.

BoS also questioned Donnici’s filing of the lawsuit in his personal capacity instead of his capacity as an officer of the Trust.

BoS asked the court to order Donnici “in his individual capacity to come forward and explain why he filed his complaint in the San Francisco Superior Court rather than in the CNMI Probate Court where it properly belongs, as well as how he reconciled the actions he has taken to benefit himself as an individual with his duties to the Trust.” (MCM)