Newspaper article THE JOURNAL RECORD

Judge Orders Re-Start of Goldman Enterprises

Newspaper article THE JOURNAL RECORD

Judge Orders Re-Start of Goldman Enterprises

Article excerpt

Alfred Goldman was ordered by a judge Tuesday to return to Oklahoma the $22.6 million he had wired to Liechtenstein to keep it away from his brother.

Alfred D. Goldman, 51, and Monte H. Goldman, 54, co-heirs to the Sylvan Goldman fortune, reached a settlement which includes a re-start of the Goldman enterprises management company closed by Alfred last month.

They appeared in court Tuesday before Oklahoma County District Judge Bryan Dixon, who set the next hearing in the case for June 15.

Monte Goldman, who maintains homes in Hawaii and Colorado, filed suit against his brother April 3. He alleged that Alfred Goldman had closed the Goldco Operating Co. of Oklahoma City, fired its 30 employees, concealed company records and attempted to make off with more than $23 million.

Monte Goldman won a temporary restraining order April 13 to halt his brother's activities. Neil Stanfield was appointed receiver for Goldco.

Attorneys for the Goldman brothers agreed Tuesday that the $23 million will be returned to Oklahoma by June 5. They also agreed that the receiver will be replaced by a new board of directors June 1, and the Goldman enterprises will be operated under a new name, Primco Inc.

The seven-member board would include Monte and Alfred Goldman, two members appointed by each brother, and one member selected by the four appointees.

Pete Boatwright, long-time chief operating officer for the Goldman enterprises, would remain in that position and have ex-officio status on the board of directors. Boatwright would be allowed to re-hire any staff members he wished, Dixon said.

The agreement also calls for a complete accounting of the Goldmans' trusts, corporations and partnerships, which Dixon said number more than 200.

"You can see how complicated this is going to be," Dixon said following Tuesday's proceedings.

The brothers were not seen speaking to each other Tuesday. Monte Goldman was represented by three lawyers - B.J. Cooper of Oklahoma City, John Edmonds and Greg Schedler of Honolulu. Alfred Goldman was represented by John Edwards of Oklahoma City.

The two sides agreed upon Arthur Andersen & Co. Inc. to perform the audit. Dixon ordered it completed within 90 days.

"It is our contention that the accounts are many million dollars out of balance at this time," Edwards said.

Dixon said the audit will determine if Goldman assets need to be traded or sold to even any imbalance.

A hearing on the temporary restraining order had been scheduled Tuesday, but attorneys spent most of the day in settlement talks. …

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