Artist Peter Max’s son can’t boot sister off company board: judge

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Artist Peter Max’s son can’t boot sister off company board: judge

The judge ruled that the son of artist Peter Max lost his bid to expel his sister as a director of his father’s company.

Adam Max, the son of a psychedelic painter, sued sister Libra Max last year and forced him to hold a special shareholders’ meeting to vote for the new board of directors of his father’s company, ALP.

He accused his sister of launching from ALP and establishing himself as CEO of the business. The business was started by the father of an 84-year-old pop artist who was recently diagnosed with dementia.

Judge Nancy Bannon of Manhattan oversees multiple proceedings between the brothers and threw the proceedings on Tuesday, “with the same parties and the same problems” as another proceeding Adam has against his sister. I decided.

In another proceeding filed in 2019, a judge continues to ban Libra from calling a shareholders’ meeting on Tuesday, when Adam will expel his sister with a third director and revive his board. I requested.

Max’s children have been involved in years of court battles over his company.
Getty Images
Libra Max has been accused of driving the company to the ground by her brother.
The judge ruled in favor of Libra Max that her brother could not expel her as CEO.
Stephen Yang

Adam led the company from 2012 to 2018. Lawrence Flynn, the guardian of Libra and his father’s property, launched him as president and CEO, claiming he had stolen millions from Peter.

Adam denied the accusation, claiming that the company prospered under his supervision.

Meanwhile, Adam claims to be in full swing since Libra became CEO.

According to the judge’s decision, Flynn, who first claimed that Adam was looting the company, later switched sides and agreed to expel Libra as part of a deal with her brother.

He and the board members who first removed him from the position formed a team.
Adam Max was banished as CEO for stealing money from the company.
Stephen Hirsch

Judges continue to postpone the vote Adam has been seeking for more than two years in light of the “problematic” agreement that Adam allegedly signed with Flynn to vote for Libra and a third member. He said he was.

“The voting agreement not only sought to bring Adam back to ALP leadership, but also demanded the transfer of ALP’s most valuable assets, and ALP in the way ALP and Libra claimed to do business under Adam. It was awkward to allow him to return. He plundered the company, “Bannon’s decision said.

Adam cannot call for a new vote until a further judgment from the judge.

Pop artists are the founders of the company in question, ALP.
Peter Max was diagnosed with dementia a few years ago.
Getty Images

In September 2021, Libra filed a petition requesting the removal of Flynn as Peter’s property guardian.

“We are in the process of considering Judge Banon’s decision,” his lawyer, John G. Moore, told Post.

Libra’s lawyer, Jeffrey Eilender, praised the decision.

“We are pleased with Judge Bannon’s legitimate decision to recognize and prevent the overkill by Peter Max’s financial guardian Lawrence Flynn, and Peter’s assets are his usual. It’s an important step towards staying in the family, “said Eilender.

In another proceeding, Libra alleged that Peter’s court, Barbara Listener, the guardian of personal and financial affairs, isolated him and ruined his life.

The listener denied the claim and filed her own legal claim against Libra.

Flynn’s lawyer did not immediately return a request for comment.

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