Paterakis married Antoinette "Toni" Apostolou, in 1950; they had six children and divorced about 40 years later. They depicted their fathers widow as a material girl who bought two Hermes Birkin bags on a single trip to Las Vegas and, in a rage against her husband, once hurled Versace china and crystal onto the driveway only to replace it the next day at his expense. (One of Mister Johns favorite adages, according to a profile by Rafael Alvarez, was: Always be involved in whatever you can politically, but never run for public office.). Headquartered in Baltimore, Maryland, we operate as an integrated network of 10 bakeries and 30 distribution centers located strategically across the Eastern seaboard, not including our strategic partners which expands our reach even further. She alleges that her husband's cash, assets and "controlling interest in the H&S Bakery enterprise" are worth more than $1 billion and should be part of his estate. Adam Bednar A Maryland appeals court has ordered a Baltimore County Circuit Court judge to reconsider portions of a lawsuit filed by the second wife of the late H&S Bakery owner John Paterakis Sr., which alleged the children from his first marriage conspired to prevent their stepmother from inheriting millions of dollars. flips of the buildings ownership) during the seven years remaining of the PILOT. Here was a power player who had gotten what he wanted from City Hall for decades. Arnold Weiner, a lawyer for Roula Paterakis, said his client was disappointed in the ruling and reviewingher options as to her next steps. (Fern Shen), Developer Paterakis orchestrates $130,000 in campaign contributions to Sheila Dixon. He paid a fine of $26,000 and was briefly barred from contributing to political campaigns, but came back strong during the current election cycle. But, she said in her suit, Paterakis children raided the cash hoards and cleaned out play money bank accounts when he was ill and hospitalized, denying her a fair share after his death. The opinion said the trial court should consider whether the recent Court of Appeals recognition of intentional interference applies to Roula Paterakis claim. The upscale complex now boasts 5.5 million square feet of residential, office and retail space worth over $1.5 billion. John Paterakis involvement in politics wasnt without controversy. Nowadays, people have started supporting his work and other things. In 2021, she withdrew her lawsuit without the court awarding her any additional assets. The family denied the allegations and called Roula Paterakis lawsuit desperate., This law suit (sic) appears to be no more than a desperate attempt by Roula to obtain more money than she was left in JPs Will, William Paterakis, John Paterakis Sr. son and chairman of H&S Bakery, wrote in a signed letter to employees in November 2017. A probate lawyer in Southern Maryland can help you if family members who never accepted you are using probate as a venue in which to antagonize you. Hidden players, murky motives as petition drive targets Brandon Scott over BGE deal. The trust is not public. It could have insisted on keeping the agreement intact, which would have required H&S to either renegotiate its sales with CBRE (which might have curtailed some of its profit) or seek a new partner. A judge dismissed much of Roula Paterakis 's original. Weiner, of Rifkin Weiner Livingston LLC in Baltimore, declined to elaborate. (See below the list for the full methodology.) All such claims were outright rejected, affirming the trial Courts well-reasoned ruling two years ago. The complaint is the latest salvo in a family feud over the estate of Paterakis, who transformed his father's small bakery into a multimillion-dollar conglomerate and an underutilized waterfront . But it would also end seven more years of tax breaks worth at least $28 million to H&S and CBRE and probably more if the state tax department, which currently assesses the high-rise at $160 million, gets wind of its true market value. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. He pleaded guilty to violating state campaign finance law after paying in excess of state contribution limits for a poll for former Councilwoman Helen Holton in 2007. Subscribers to Maryland Family Law Update can access the digital edition archive. The siblings suit portrays the widow as a twice-divorced woman who latched onto their wealthy father. And if there's a lot of money that's at stake, to mix metaphors, that's almost strike three. Also in play is $570,000 that John Paterakis daughters, Smith and Karen Phillipou, took from his safe deposit boxes while he was hospitalized in December 2013. Roula Paterakis wants the court to see her as a victim, but as our filing today shows, she was no victim, said Jeffrey E. Nusinov, who represents William Paterakis and Venice Smith. 290, Josephine Louis and family are heirs to the SC Johnson family fortune and have a net worth of $2.2 billion. (You Tube), There was, however, a proviso in the PILOT agreement that said the city would receive 25% of excess net proceeds after the developer achieves a 15% cumulative return on equity.. Nusinov said Roula Paterakis was not left empty-handed: her husband left her $250,000, a retirement account worth more than $650,000 and the home they shared in Baltimore County. Paterakis widow ends multimillion-dollar lawsuit against his children, Video Series: Off the Record with Sloane Brown, YOUR CALIFORNIA PRIVACY RIGHTS/PRIVACY POLICY, Marris Hoffee and Jamie Ferguson | Mid-Shore Pro Bono, Sheila McDonald, Marciel Rojas Rosario, Derek L. Simmons, Chick Zoll and Michael Latimer | Board of Child Care. But in an opinion filed Thursday, Marylands Court of Special Appeals revived some of Roula Paterakis claims, including one that her husbands children had wrongly interfered with her expected inheritance specifically, a promise he had made to leave her $20 million. Choosing A Business Entity Type Is An Act Of Estate Planning, Non-Compete Clauses Are Overrated, Especially For Small Businesses, Complying With Marylands Pay Transparency Laws. Subscribers to The Daily Record can access the digital edition archive. We also use third-party cookies that help us analyze and understand how you use this website. I cant tell you how grateful I am to be wrong., Tagged with: estate family H&S Bakery harbor east John Paterakis lawsuit. The family alleged Roula, unhappy with the money left to her in the estate including the house they lived in; $250,000; an IRA worth more than $500,000; and $647,500 in life insurance tried to force John Paterakis Sr. to leave her $5 million, according to the complaint. But William Paterakis and Venice Smith have valued their fathers estate at just over $155,000. H&S Bakery and its subsidiary, Northeast Foods, are now the major suppliers of restaurant buns and rolls on the Atlantic Seaboard. Get your evening news in your e-mail inbox. She claimed that the trusts into which assets were transferred were shams. We and our partners use cookies to Store and/or access information on a device. [Paterakis pleads guilty, will pay $26,000 in fines]. Documents filed in Orphans' Court show trouble brewing between Roula Paterakis and her husband's children by his first wife over the past year. Save my name, email, and website in this browser for the next time I comment. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Additionally, it should be noted, the Paterakis family picked up 10 years worth of EZ (Enterprise Zone) tax credits from the state. This category only includes cookies that ensures basic functionalities and security features of the website. Nov. 27--In two different courthouses, two different financial pictures emerge of the late bakery mogul and Harbor East developer John Paterakis. In general, Paterakis was involved in local and . Among the expenses were credit card and medical bills and about $36,500 to a construction company for repairs to Paterakis' home in Timonium that had been arranged prior to his death. But equally compelling as underscored by evidence arising from Dixons own embezzlement trial six months after the approval of the Legg Mason PILOT was the enormous clout of John Paterakis. She alleged that her husbands children had transferred assets worth millions of dollars into sham trusts to keep it out of his estate. Paterakis' will, submitted to the Baltimore County Register of Wills on Oct. 24, 2016, offers no details on how he wanted his estate distributed, referring instead to a trust that apparently includes those terms. [Family feud over estate of bakery magnate, Harbor East developer Paterakis]. 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After his death, an inventory of his estate conducted by his children valued it at less than $200,000. He and Roula Passon began dating in 1997, she moved in with him in 2001 and they married in 2015, according to her lawsuit. According to his wife Roula, with whom he was in a relationship since 2001 whom he married about a year before his death, he also kept millions of dollars in cash in safes located on his real estate properties. "If there is explicit animosity already, that's a larger red flag. He turned the family business, H&S Bakery Inc., into one of the citys most prominent businesses. Todays action (by Cavanaugh) represents complete vindication and clears the Paterakis family name, Nusinov stated via email. Paterakis took his fathers bakery, located in their East Baltimore rowhouse, and built it into a what its website touts as Americas largest family-owned variety baker, with one of its plants making two million buns a day for McDonalds. Subscribers to The Daily Record can access the digital edition archive. Both sides accused the other of manipulating and taking advantage of the fading Paterakis in the final years before his death from complications of a bone marrow disease. Judge rules against second wife in John Paterakis Sr. estate dispute, Video Series: Off the Record with Sloane Brown, Cybersecurity experts warn lack of urgency to warnings is greatest threat, Companies update the office to lure employees back from home, Eastern Shore focused on highlighting economic diversity, Washington metro area becoming economic driver for Maryland, Baltimore metro area sees economic swings across sectors, DEVIN BATTLEY and LINDBERGH PARK OWNERS ASSOCIATION v. 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