United States v. Davenport

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANT’S MOTION FOR SUMMARY JUDGMENT AND GRANTING IN PART AND DENYING IN PART THE GOVERNMENT’S MOTION FOR PARTIAL SUMMARY JUDGMENT

KENT, District Judge.

When Gordon E. Davenport and his cousins received large blocks of Hondo Drilling Company stock from their financially savvy aunt, they got more than they bargained for. Confusion regarding ownership of the stock, proper valuation of the shares, and one cousin’s failure to comply with the terms of a family agreement regarding payment of gift taxes, have resulted in years of litigation and the…