- 23 -
Jay Goldenberg (Goldenberg). Hillgren answered questions
regarding the BLA, LKHP, the appraisal of decedent’s interest in
LKHP, and a mortgage.
In response to questions regarding the BLA, Hillgren told
Goldenberg that he did not know when the BLA was signed and that
Walsworth drafted the agreement. Hillgren also told Goldenberg
that he complied with the requirements in the BLA to extend the
Huettner and Safeco loans. Hillgren stated that the only
document that encumbered the properties that were subject to the
BLA was the agreement itself. Hillgren stated that he took over
management control of the properties subject to the BLA but that
he also controlled the day-to-day management of decedent’s other
properties not subject to the BLA.
In response to questions that were posed by Goldenberg
regarding LKHP, Hillgren explained the purpose of forming the
partnership as “Lea suffered from depression. She did not have a
husband. She was dating a young guy. He was worried about his
motives and she was worried too. The Partnership served as an
asset protection.” Hillgren gave the same answer in response to
questions as to why they formed the partnership when Hillgren was
already managing decedent’s properties under the BLA. Hillgren
also stated that his rights under the BLA were senior to the
partnership agreement and that he gave his consent for the
transfer of the properties to LKHP.
Page: Previous 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 NextLast modified: May 25, 2011