El Paso

BREAKING: Dick Poe's son to regain control of estate, no damages awarded

Judge Patricia Chew decided to grant a "directed verdict" in the case involving the estate of late El Paso car dealer Dick Poe.

A jury last Friday ruled in favor of Richard Poe II, the man fighting to reclaim the estate of his father.

Chew granted the directed verdict after determining there was not enough evidence of mismanagement. The decision means no damages will be awarded to Poe II, who will regain controlling interest of his father's estate.

Dick Poe seized control of his estate with a stock transaction 10 days before his death in May 2015. Poe II, who sued to regain control of three dealerships, was also seeking damages from three employees currently managing the estate.

10 out of 12 jurors found the stock transaction was "not valid" and enforceable under the Texas Business Organizations Code.

Poe II's attorneys argued during closing arguments the stock issuance was "fabricated" by the defendants: attorney Paul Sergent,  accountant Tony Bock and dealership comptroller Karen Castro.

The attorneys argued the elder Poe made his eldest son his legal guardian, trusting him with his life, and never revoked that guardianship before his death.


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