In October, 2013, we reported that the Koch family, owners of Holiday World & Splashin’ Safari in Santa Claus, Indiana, had their legal dispute resolved when an appellate judge affirmed a lower court decision in favor of the late majority owner’s estate. The dispute arose from a mandatory stock purchase agreement created by the three sibling owners of a successful amusement park in case one of the three family members passed away.
But the fight didn’t end there. After Dan Koch lost the 2013 Court of Appeals ruling in his attempt to gain control of the family-owned park from his sister-in-law, Lori Koch, he filed a petition for the state Supreme Court to appeal the case.
In a decision handed down on February 17, the justices unanimously denied the petition to hear the appeal of the Court of Appeals’ decision that awarded ownership of the Southern Indiana park to Lori, the widow of former park President Will Koch. Currently, Lori Koch owns 60% of the company, while Dan Koch owns the remaining 40%.
For more information, read the IndyStar report, Ind. Supreme Court decides not to hear Holiday World case. (opens in new window)