Thu October 3, 2013
Appeals Court Issues Ruling in Holiday World Dispute
An appeals court says the widow of a southern Indiana theme park president isn't required to sell shares in the facility to her late husband's brother.
The ruling issued today upholds a county judge's finding that Lori Koch is the majority shareholder of the holding company that operates Holiday World & Splashin' Safari in Santa Claus, Ind.
She took control of the shares upon the sudden death of her husband, park president Will Koch, in June of 2010.
Dan Koch had tried to buy his brother's shares in the park, but the appeals court ruled that his bid violated the terms of an earlier agreement between the Koch brothers and their sister, Natalie.
That agreement governed the sale of shares in the event of any of their deaths.