Donald Sterling’s attorneys planned for 10 witnesses Monday but called none

first_img Newsroom GuidelinesNews TipsContact UsReport an Error One of the few undisputed facts in this case is that Donald Sterling revoked the Sterling Family Trust on June 9. The argument now is whether or not Shelly has the authority to close the $2 billion sale of the team to former Microsoft CEO Steve Ballmer as part of her post-revocation responsibilities.Ballmer’s attorney Adam Streisand said he and Shelly’s attorneys could have argued that Donald’s revocation itself was invalid but didn’t because they were already confident on the post-revocation point and wanted to streamline the case.Schield testified that the Sterlings’ real estate properties were cumulatively worth $2.5 billion, but selling enough at once to pay off the loans would be difficult and likely would result in a below-market price. He also said he warned Donald and his attorney Bobby Samini that revoking the trust would “open up Pandora’s box, and there would be severe consequences” due to the outstanding loans, but received no response.During cross-examination of Schield, Donald Sterling’s attorney Maxwell Blecher suggested that alternatives included private loans or taking the company public.On redirect, O’Donnell asked if Donald’s current reputation could affect the implications of taking the company public. What was scheduled to be the longest day in the Sterling probate trial turned out to be the shortest.Donald Sterling’s attorneys submitted an updated 10-person witness list last week, setting up Monday’s court date to be filled with testimony. Instead, they didn’t call a single person to the stand.On the fifth day of a court battle that could determine ownership of the Los Angeles Clippers, the only witness to testify was Darren Schield, the longtime CFO and controller of Beverly Hills Properties — a role that essentially puts him in charge of the day-to-day financial operations of the Sterlings’ nearly 10,000 apartment units.Called by Shelly Sterling’s attorneys, Schield testified that the Sterlings’ held roughly $480 million in combined debt with Union Bank, Bank of America and Citi National Bank. Shelly Sterling’s attorney Pierce O’Donnell framed that debt as a burden on the Sterling Family Trust, making it necessary for Shelly to sell the Clippers and pay back the loans as part of the “winding down” of the trust.center_img “I don’t know if anyone would want to go into partnership with us right now,” Schield said.Schield’s testimony ended in less than 45 minutes. The trial will pick up again 1:30 p.m. Tuesday, with Clippers interim CEO Dick Parsons to take the stand. Bank of America’s Anwar Zakkour, who helped negotiate the sale of the team, is scheduled to testify as well.Donald’s attorneys plan to call Shelly Sterling to the standTuesday, with her testimony going into Wednesday if necessary.last_img

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