So the Village Voice is reporting that Hilly Kristal died a millionaire with a surprising $3.7M in his checking account. I guess its not really surprising considering the amount of CBGB emblazoned swag there is out there; from shower curtains to thongs, Hilly wasn't making his cash from Monday audition nights thats for sure. But Hilly did always claim to be broke... then again, how do rich people stay rich? Well, by being cheap of course!
And now, cue the family war for Hilly's riches.
Kristal's son, Dana, isn't happy at the way his sister Lisa encouraged his mother, Karen to sign away any rights to the corporation that ran CBGB almost three years ago—when Karen, 82, was already showing signs of senility and may not have realised what she was giving away.
Karen Kristal (real name Sara Rebecca) the president of Sareb Restaurant Corp., the company that ran CBGB & OMFUG, signed over the liquor license and her interest in the company (10 shares, or 100% of Sareb) to her ex-husband Hilly in January of 2005. Now, at age 82 and not in good health, she doesn't even remember signing the papers.
Additionally, she and her son tell the Voice that Hilly and Lisa repeatedly told them there were no assets, even though there was a $600,000 house in Asbury Park.
Hilly's will left $100,000 in a trust for Dana and the rest of the tangible assets to Lisa, who was also named the executor —which means she gets the executor's cut, too.
Hilly and Karen were apparently still close, and she even worked the door at the club after they split. She says he promised her a payday, and now that he's gone —it seems that payday will never come. For now, Karen lives in a rent-controlled Fifth Avenue apartment, which she pays for through her savings and Social Security.
Can anything ever be simple?
And what the F, my bands played countless "Save CBGB's" benefit shows over the years and this dude had $4M squirreled away in the bank? Yo, that ain't hardcore yo.
I should at least get a free coffee mug or some shit.
yo, lend me a dolla?
19 September 2007