Hurricanes owner Peter Karmanos Jr. sued by three sons
Carolina Hurricanes owner Peter Karmanos Jr. is being sued by his three sons, reports Click on Detroit.
Karmanos’s sons, Peter the third, Nick and Jason, are set to inherit a considerable amount of money from his will. However, Karmanos reportedly borrowed millions from the trusts, which are comprised of Compuware stock, in order to fund the Hurricanes. The trusts are said be worth over $100 million.
According to the lawsuit, Karmanos’s sons are claiming that their father defaulted on the loan. Karmanos’s financial situation is now being called into question.
“Well certainly the biggest indicator of money problems is when you're getting sued over nonpayment of money, the lawsuit certainly suggests that but there could be other reasons as well,” probate litigator Robert Zawideh said.
The three sons filed a civil case in circuit court rather than probate court, calling the lawsuit a contract dispute.