Chelco Family Estate Lawsuit

[WormwoodExperiment]

I pray to God it works out for you. I know how difficult it's been.

[WormwoodExperiment]

I really hope you get closure after all these years.

[Jaci]

Thank you! 

[WormwoodExperiment]

How did it go?

[WormwoodExperiment]

?

[Jaci]

We have no news yet! The judges can take as long as they want to deliberate. 

[Beeblebrox]

Best of luck. I am in the UK but have a Chelco made NTSC board in one of my Atari 600XL's.

Edited December 7, 2023 by Beeblebrox

[+mytek]

8 hours ago, Beeblebrox said:

Best of luck. I am in the UK but have a Chelco made NTSC board in one of my Atari 600XL's.

I have a brother and sister 800XL both with Chelco boards (sequential serial numbers), and at least one Chelco 600XL I believe stashed away somewhere.

[+orpheuswaking]

I have a basement full of Chelco machines. 

[mimo]

I don't have any 

[+mytek]

6 minutes ago, mimo said:

I don't have any 

Maybe they were predominantly NTSC only?

[Beeblebrox]

Of all the many pal 600xls through my hands in the last through years, none have been Chelco made. I think it's probably likely only some ntsc pcbs were chelco made. 

[WormwoodExperiment]

Justice is too slow moving.

[WormwoodExperiment]

Any word?

[Jaci]

Hello! We lost the appeal. However, Steven and I submitted our own motion as self-litigants in opposition. If they deny our motion, we requested approval to appeal to a higher court. Thank you for checking in!

[WormwoodExperiment]

I'm sure the courts will drag this out for another decade. There is no right to a speedy trial. The system just bleeds people financially. That's a crime in and of itself.

[WormwoodExperiment]

Any word?

[Jaci]

Sorry for the delay in response! We lost. So it APPEARS the case is over… However, I have plans… More to come. 😉

[+MrFish]

On 12/8/2023 at 2:33 PM, Beeblebrox said:

Of all the many pal 600xls through my hands in the last through years, none have been Chelco made. I think it's probably likely only some ntsc pcbs were chelco made. 

One of the 800XL's I sold was a Chelco (pictured below, a real clean one, with a black beauty psu), and my main machine is too. I've probably had more, but never bothered to check them. They're NTSC.

 

 

[jhd]

3 hours ago, Jaci said:

Sorry for the delay in response! We lost. So it APPEARS the case is over… However, I have plans… More to come. 😉

 

In the Matter of David Hassine, Deceased. Steven Hassine et al., Objectants-Appellants, v Samuel Hassine, Respondent. (December 19, 2023)

222 A.D.3d 522 * | 202 N.Y.S.3d 293 ** | 2023 N.Y. App. Div. LEXIS 6530 *** | 2023 NY Slip Op 06479 **** | 2023 WL 8720956
 

Quote

A fair interpretation of the evidence presented at trial supported the Surrogate Court's conclusion that David did not own 30% of funds held in Swiss bank accounts at the time of his death in 2009 (see Thoreson v Penthouse Intl., 80 NY2d 490, 495 [1992]). We reject objectants' contention that under the doctrine of tax estoppel, Surrogate's Court should have found that David owned 30% of the Swiss bank accounts, as objectants failed to produce any tax returns signed by Samuel to that effect and therefore cannot be heard to assert an estoppel based on information in a tax return (see PH-105 Realty Corp. v Elayaan, 183 AD3d 492, 492, 124 N.Y.S.3d 684 [1st Dept 2020]). Furthermore, that objectants produced a 2008 Report of Foreign Bank and Financial Accounts (FBAR) stating in Part III that David had a financial interest in the Swiss bank accounts does not change our conclusion. The testimony by Samuel's expert established that placing information about assets into Part III of an FBAR does not necessarily constitute a representation that the signatory owns the assets listed there, and objectants' expert did not contradict that testimony.

 

[jhd]

 

There is another reported decision that provides a bit more information on the Atari-Chelco connection (and the larger context):

 

Estate of David Hassine
Surrogate's Court of New York, New York County (December 15, 2022)
2022 NYLJ LEXIS 2517 
 

Quote

In the 1970's, Samuel and Fred went into business together and founded a number of companies using variations of the moniker "Chelco." In 1976, they founded Chelco Sound Inc. ("Chelco Sound") which, although not profitable, functioned as an importer and reseller of consumer electronics until the early 1980's, when it ceased operations. In 1978, the two founded another company, Chelco Realty Corp. ("Chelco Realty"), which purchased property on which they would build a warehouse to house the inventory and offices of the family businesses. 

 

[...]

 

In 1978, Fred and Samuel had founded another company in Hong Kong, called Chase Electronic Company Limited ("Chase Electronics"). The record does not identify the specific initial shareholders of Chase Electronics. Samuel testified that he believed that he and Fred each owned 50 percent of Chase Electronics. However, the Memorandum and Articles of Association of Chase Electronics, dated November 24, 1978, suggest that the actual shareholder was Chelco Sound, of which Fred owned 52 percent and Samuel owned 48 percent at the time. Regardless, the ownership of Chase Electronics did not change before the company was liquidated in 1984, i.e., ten years before decedent became an owner of Chelco Sound. Samuel testified that during Chase Electronics' existence, decedent "had nothing to do with" the company.

 

Chase Electronics, acting as an electronics manufacturing broker, entered into what proved to be a lucrative deal for the manufacture of Atari products in the early 1980's (the "Atari Deal"). According to Samuel, as a result of the Atari Deal, Chase Electronics earned "millions of dollars," and Fred and Samuel had to decide what to do with the money. Fred explained to Samuel that there already existed a bank account in Switzerland valued at about $100,000. Fred's father (decedent's grandfather) had given the account to Fred with the understanding that Fred would preserve the principal and distribute the income to Fred's children in the following manner: 50 percent to Samuel, 30 percent to decedent, and 20 percent to Liliane. Fred told Samuel that he wished to deposit the substantial profits from the Atari Deal into the Swiss Account and "continue the same tradition" that his father (decedent's grandfather) had initiated of using the money to "take care of the family." To this end, the profits from Chase Electronics were deposited into the account where the other Swiss Assets were held at the United Bank of Switzerland ("UBS"). Thereafter, no funds were transferred to the Swiss Accounts.

 

[Jaci]

38 minutes ago, jhd said:

 

There is another reported decision that provides a bit more information on the Atari-Chelco connection (and the larger context):

 

Estate of David Hassine
Surrogate's Court of New York, New York County (December 15, 2022)
2022 NYLJ LEXIS 2517 
 

 

This is all based on my uncle’s testimony only. No supporting evidence was produced - in fact quite the contrary. By the end of the trial, he admitted there never was a trust before 2012 when he created one. Steven and I paid experts for their opinions in both Egypt and Switzerland where they claim the trust was formed… there wasn’t even trust law in those countries! If you can find the appeal that Steven and I turned in without a lawyer, you can read all the points we appealed on. If you can’t find it, I will try to provide a link. 

[Jaci]

We also produced lots of evidence proving their narrative false about Samuel and Fred creating Chelco without my father, etc. We have both documentary proof as well as two disinterested parties who were there at the time of Chelco’s creation who testified against what our uncle claimed. 

[WormwoodExperiment]

Unreal. It's unbelievable the court doesn't see how blatant an act of corruption it is on your uncles part. It's spelled out for them. It's probably because it's around such a sensitive area when it come to tax evasion. Everyone is doing it.