Ex-Derzon operator to keep salary
Lori Laatsch, the Hartland woman who seized control of the Derzon Coin Co. after the company's founder and his widow died, is entitled to keep the six-figure annual salary she received during the four years she ran the West Allis coin shop, a circuit court judge ruled
Laatsch took control of the business in 2008 after Rebecca Derzon, the widow of founder David Derzon died. Last year, Milwaukee County Judge Jane Carroll ruled the will that gave Laatsch majority ownership of the Derzon family business to be void.
The judge said that Laatch used improper influence to convince Rebecca Derzon — Laatsch's half sister — to change her will by cutting David Derzon's two adult sons out of the $3 million estate and giving Laatsch majority ownership of the profitable coin business.
Rebecca Derzon changed her will just three months after David Derzon — to whom she was married for nearly 30 years — died at age 83 and five months before Rebecca Derzon died at age 59. Rebecca Derzon was depressed and abusing alcohol and drugs at the time, according to testimony in the lengthy probate fight. She died in August 2008 after accidentally ingesting a fatal amount of prescription pills and alcohol.
During the time Laatsch ran the business, she collected more than $624,000 in salary, according to records.
In an opinion issued last week Carroll said that even though she ordered Laatsch to return the company stock to the Derzon estate and ordered her out of the business, Laatsch could keep the pay she collected. The Derzon estate, which is now controlled by the Derzon sons, asked that she pay back the salary to the estate.
"What the estate has consistently refused to acknowledge, however, is the value of Ms. Laatsch's work for Derzon Coin," Carroll wrote. "She was working full time, and the company was successful under her management."
Laatsch took control of the business in 2008 after Rebecca Derzon, the widow of founder David Derzon died. Last year, Milwaukee County Judge Jane Carroll ruled the will that gave Laatsch majority ownership of the Derzon family business to be void.
The judge said that Laatch used improper influence to convince Rebecca Derzon — Laatsch's half sister — to change her will by cutting David Derzon's two adult sons out of the $3 million estate and giving Laatsch majority ownership of the profitable coin business.
Rebecca Derzon changed her will just three months after David Derzon — to whom she was married for nearly 30 years — died at age 83 and five months before Rebecca Derzon died at age 59. Rebecca Derzon was depressed and abusing alcohol and drugs at the time, according to testimony in the lengthy probate fight. She died in August 2008 after accidentally ingesting a fatal amount of prescription pills and alcohol.
During the time Laatsch ran the business, she collected more than $624,000 in salary, according to records.
In an opinion issued last week Carroll said that even though she ordered Laatsch to return the company stock to the Derzon estate and ordered her out of the business, Laatsch could keep the pay she collected. The Derzon estate, which is now controlled by the Derzon sons, asked that she pay back the salary to the estate.
"What the estate has consistently refused to acknowledge, however, is the value of Ms. Laatsch's work for Derzon Coin," Carroll wrote. "She was working full time, and the company was successful under her management."
Read more from Journal Sentinel: http://www.jsonline.com/business/ex-derzon-operator-to-keep-salary-b99122392z1-228270801.html#ixzz2j6RimyE5
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