- 17 - $1,146,446 (the fair market value of the recovered stolen bonds) or $171,966.90. He surcharged Reardon the excess of $78,983.10 plus 6 percent interest from the dates he received moneys from the estate, i.e., $28,033.10 on May 7, 1980, $20,000 on June 17, 1980, and $30,950 on April 15, 1981. Reardon was to be given credit for any portion of his surcharge which might be paid by Lynch on Reardon's behalf and so designated at the time of payment. Judge Shoyer next found that $95,000 had been paid by Lynch to Groen and Smolow. There was no controversy about the first $50,000 which Lynch had said was payable out of his fees in connection with the litigation to compel recovery of the stolen bonds from the Bossis. Controversy still existed, however, as to the remaining $45,000 which Lynch paid them as an alleged general obligation of the estate for estate work performed by Smolow. After reviewing the record, Judge Shoyer surcharged Groen and Smolow $1,230 plus 6 percent interest from May 14, 1980, when Lynch withdrew the $45,000 from the estate. Groen and Smoler were given credit for any portion of their surcharge which might be paid by Lynch on their behalf and so designated at the time of payment. Finally, because of Lynch's failure to cooperate with Boote in the preparation of the surety's account for the estate, Judge Shoyer reduced his fee from 40 percent to 35 percent of the fairPage: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
Last modified: May 25, 2011