Casino Mogul’s Estate Challenged by Daughter

MP900316845A settlement was recently reached between the representative of the late casino tycoon Kirk Kerkorian’s estate and an attorney who claimed his will wrongfully excluded a 17-year-old girl who says she is his biological daughter.

myLAnews.com’s recent post, “Did Kirk Kerkorian’s will leave out 17-year-old biological daughter? Settlement reached,” explained that the court papers filed by attorneys for Anthony Mandekic, the executor of Kerkorian’s estate, stipulate that the resolution will give Kira Kerkorian more assets. This settlement still requires court approval, for which a hearing is scheduled in February.

Mandekic was Kerkorian’s close friend and the CEO of Tracinda Corp., the billionaire’s private investment firm.

Attorney Michael Augustine serves as Kira Kerkorian’s guardian ad litem. He was appointed by Los Angeles Superior Court Judge Maria Stratton on September 10 to protect the teen’s interests. Kira Kerkorian turns 18 on March 9 but was still a minor as of the November deadline to contest the will.

Kirk Kerkorian was obligated to provide $7 million to a trust created on Kira’s behalf based on his marital settlement agreement with ex-wife Lisa Bonder Kerkorian—the teen’s mother. Under the terms of the settlement, another $1.5 million will be distributed to the teen’s trust.

Augustine filed his petition and claimed that when Kerkorian’s will was created in July 2013, its beneficiaries “knew or should have known (Kerkorian’s) health was failing, that he was dependent on the persons surrounding him for his daily living needs and that he was highly susceptible to the influence of the persons on whom he depended.”

The petition also claimed that the will’s beneficiaries took advantage of the trust and confidence that Kirk Kerkorian placed in them and “suggested and dictated the contents of the document, arranged for the document to be drafted, arranged for execution of the document and caused (Kerkorian) to execute the document.”

Kira Kerkorian’s mother, a 50-year-old former professional tennis player, was married to Kerkorian for less than a month in 1999. Kirk continually denied during his lifetime that he was Kira’s father. However, he grew fond of her and decided to provide for her anyway.

Kerkorian died June 15 at age 98 from age-related causes. He was the son of poor Armenian immigrants and worked to develop signature casinos on the Las Vegas Strip, such as the MGM and MGM Grand. Kerkorian also invested in and operated businesses in a number of industries, including airlines, automakers (Chrysler and General Motors), and film studios. Remarkably, Kerkorian bought and sold MGM Studios three times. He also purchased United Artists and attempted to acquire Columbia Pictures.

Reference: myLAnews.com (December 21, 2015) “Did Kirk Kerkorian’s will leave out 17-year-old biological daughter? Settlement reached”

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