James Howard Marshall III | |
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Born | San Francisco, California, U.S. | February 6, 1936
Occupation | Electronics company executive |
Known for | Former owner of 4% of Koch Industries |
Spouse | Ilene O. Marshall |
Family | J. Howard Marshall II (father) E. Pierce Marshall (brother) Elaine Tettemer Marshall (sister in-law) Preston Marshall (nephew) Anna Nicole Smith (stepmother) |
James Howard Marshall III (born February 6, 1936) is president and owner of MDH Industries, an electronics company based in Monrovia, California. He is the eldest son of J. Howard Marshall II, who owned 16% of Koch Industries.
At his wedding in 1974, Marshall III and his brother, E. Pierce Marshall, were each given shares representing a 4% stake in Koch Industries by their father, J. Howard Marshall II, who said "these are the crown jewels, take care of them." [1]
In 1980, the four sons of Fred C. Koch fought over control of Koch Industries, founded by their father. Marshall III sided with Bill Koch and Frederick R. Koch, while J. Howard Marshall II and E. Pierce Marshall sided with Charles Koch and David Koch. [1] Charles and David got control of the company in 1983. [1]
Marshall II then demanded that Marshall III return the 4% interest in Koch Industries that was gifted to him. Marshall III forced his father to pay $8 million for the shares. Even though the shares are worth billions today, at the time, his father thought the price was exorbitant and cut Marshall III out of his will and testament, saying the $8 million was "all he'd get". [1]
After his father died in 1995, Marshall III sued his father's estate, as well as his brother, sister in-law, and nephew for an inheritance. [2] He also sued Koch Industries and Charles and David Koch, accusing them of conspiring with his brother, E. Pierce Marshall, to influence his father and cheat him of his inheritance. [3]
In March 2001, a Texas probate jury found that J. Howard's will and trust were valid and had not been executed under fraud or malice, Pierce had not committed any wrongdoing, and that Marshall III and his father's widow, Anna Nicole Smith, were not entitled to any part of his estate. [4] Further, the jury found Marshall III had committed fraud with actual malice for filing the lawsuit and forced Marshall III to pay his brother $35 million plus legal fees at a time when Marshall III claimed his net worth was $26 million. [5] Even though the award was reduced to $11 million plus legal fees, Marshall III filed bankruptcy on July 11, 2002. [6]
J. Howard Marshall III played himself in The Life and Death of Anna Nicole, a TV movie documentary released in 2007, and was featured in a 2001 episode of E! True Hollywood Story. [7]
Vickie Lynn Marshall, known professionally as Anna Nicole Smith, was an American model, actress, and television personality. Smith started her career as a Playboy magazine centerfold in May 1992 and won the title of 1993 Playmate of the Year. She later modeled for fashion companies, including Guess, H&M, Lane Bryant, Conair, and Heatherette.
Koch, Inc. is an American multinational conglomerate corporation based in Wichita, Kansas, and is the second-largest privately held company in the United States, after Cargill. Its subsidiaries are involved in the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizer, pulp and paper, chemical technology equipment, cloud computing, finance, raw materials trading, and investments. Koch owns Flint Hills Resources, Georgia-Pacific, Guardian Industries, Infor, Invista, KBX, Koch Ag & Energy Solutions, Koch Engineered Solutions, Koch Investments Group, Koch Minerals & Trading, and Molex. The firm employs 122,000 people in 60 countries, with about half of its business in the United States.
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Jeffrey Keith Skilling is an American businessman who in 2006 was convicted of federal felony charges relating the Enron scandal. Skilling, who was CEO of Enron during the company's collapse, was eventually sentenced to 24 years in prison, of which he served 12 after multiple appeals.
James Howard Marshall II was an American businessman, government official, lawyer, and legal scholar. He was involved with and invested in the American petroleum industry via his academic, government and commercial endeavors. He owned 16 percent of Koch Industries and was married to American model Anna Nicole Smith during the last 14 months of his life. His estate became the subject of protracted litigation, which was reviewed by the Supreme Court in Marshall v. Marshall and Stern v. Marshall. The court kept the will and testament intact and substantially all of the assets in Marshall's estate wound up in trusts for the benefit of his daughter-in-law, Elaine Tettemer Marshall, and her family.
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Marshall v. Marshall, 547 U.S. 293 (2006), is a case in which the United States Supreme Court held that a federal district court had equal or concurrent jurisdiction with state probate (will) courts over tort claims under state common law. The case drew an unusual amount of interest because the petitioner was Playboy Playmate and celebrity Anna Nicole Smith. Smith won the case, but unsolved issues regarding her inheritance eventually led to another Supreme Court case, Stern v. Marshall. She died before that case was decided.
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Everett Pierce Marshall was an American petroleum industry executive. He was the beneficial owner of 16% of Koch Industries, which he received as an inheritance from his father, J. Howard Marshall II. He spent the last 12 years of his life as a defendant in lawsuits by his stepmother, Anna Nicole Smith, and his brother, J. Howard Marshall III, who both sought part of his father's fortune after being left out of the will and testament.
Howard Kevin Stern is an American attorney based in California. He was the domestic partner, attorney and agent of the late model Anna Nicole Smith. He became known as a co-star on Smith's 2002–2004 reality television series The Anna Nicole Show. As of 2019 he works with the Los Angeles Public Defender's Office.
The Dannielynn Hope Marshall Birkhead paternity case, a.k.a. Birkhead v. Marshall, was a high-profile legal battle that revolved around the paternity of Anna Nicole Smith's daughter, Dannielynn. Larry Birkhead, Smith's former love interest, filed a lawsuit against Howard K. Stern, Smith's live-in partner who was listed as the father on the birth certificate, seeking to establish his paternity rights. Dannielynn stood to inherit a substantial fortune if Smith's estate succeeded in its ongoing legal battle to claim inheritance from her late husband, an affluent oil tycoon. Given its significant implications and media coverage, the case involved various legal proceedings and garnered substantial public attention. G. Ben Thompson, a former boyfriend of Smith's who worked as a real-estate developer in South Carolina, claimed that pregnant Smith approached him to inform him that he was the father of her unborn child, but he balked telling Smith that was impossible because he had a vasectomy.
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Stern v. Marshall, 564 U.S. 462 (2011), was a United States Supreme Court case in which the Court held that a bankruptcy court, as a non-Article III court lacked constitutional authority under Article III of the United States Constitution to enter a final judgment on a state law counterclaim that is not resolved in the process of ruling on a creditor's proof of claim, even though Congress purported to grant such statutory authority under 28 U.S.C. § 157(b)2(C). The case drew an unusual amount of interest because the petitioner was the estate of former Playboy Playmate and celebrity Anna Nicole Smith. Smith died in 2007, before the Court decided the case, which her estate lost.
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