Giambrone advises the heirs of late millionaire Jay Maggistro
Our European Litigation team advises the heirs of the late Jay Maggistro in a complex, international contested probate dispute.
The Maggistro family has instructed Giambrone to advise in respect of multiple claims (including breach of contract, breach of trust and professional negligence) in various jurisdictions against their former solicitors who were appointed by the High Court to act as a Personal Representative of the estate of the late Jay Maggistro worldwide.
Jay Maggistro - who suddenly passed away in April 2013 after suspected heart failure in Florida in January of that year - was the owner of a chain of hair salons in London; he was a familiar and popular face in the London VIP scene and was once described as a “flamboyant Sicilian aristocrat” who amassed a significant wealth in the late 1990s.
In 2002, he invested more than £20 million to launch No 5 Cavendish Square, a joint venture with Prince Bahar of Brunei, the son of the widely popular former Brunei Finance Minister, Prince Jefri Bolkiah.
The family alleges that their former solicitors acted negligently in the administration of the global estate of Jay Maggistro which included several properties in prime London locations (including 21 Harley Street) and many business interests in offshore jurisdictions, including Italy, England and the Caribbean.
We are considering allegations that the former solicitors firm:
- sold properties against our clients’ instructions, acting against their best interest and for less than the properties were worth because of poor (or non-existent) valuations;
- acted negligently in the administration of the Italian estate and failed to complete the Italian probate, whilst some properties still remain registered in the name of the deceased after almost four years after his death
Our probate and trust disputes team identified numerous ways in which international laws have become relevant to the current trust and estate dispute so we have advised our clients accordingly. The defendants are represented by Messrs. Kennedys and it is likely that the current dispute will be litigated at least in two jurisdictions.