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HomeMy WebLinkAbout11-28-12 ~= ~ _ ~ ~ ~ ~ ~ ~~' ~ ('.~ .,, ,,,' ~a ,'~ ',Y~J ~'\1 ~:..,~ ` fig Yn.,, i Shelly J. Kunkel, Esquire ..,~-~ `°I r ; '~~''~ Supreme Court ID 1'0.64485 >;- t Wion, Zulli & Seibert 109 Locust Street Harrisburg, PA 17101 (717)236-9301 IN THE MATTER OF IN THE REGISTER OF WILLS ESTATE OF SHAWN M. MISHKIN, CUMBERLAND COUNTY, PENNSYLVANIA Deceased ESTATE NO. 2012-01211 PETITION FOR LEAVE TO CONTINUE DECEDENT'S BUSINESS PURSUANT TO 20 PA. CONS. STAT. ~ 3314 NOW COMES, Petitioner, Holly A. Mishkin, by and through her attorneys, Wion, Zulli & Seibert, and. files the within Petition for Leave to Continue Decedent's Business Pursuant to 20 PA Cons. Stat. §3314, and in support thereof, respectfully avers as follows: 1. Shawn M. Mishkin ("Decedent") died October 30, 2012, intestate, a resident of Cumberland County, Pennsylvania, and letters of administration were granted to petitioner by the Register of Wills of Cumberland County, Pennsylvania, on November 20, 2012. 2. The only persons interested in the Decedent's estate are petitioner, Decedent's widow, and Nadia P. Mishkin, Decedent's minor daughter, born December 16, 2009, now three years of age. 3. At the time of his death, Decedent was the sole shareholder of Plum Sport, Limited, a Pennsylvania Subchapter "S" Corporation, which he operated as a women's apparel business known as The Plum Sport, 512 Strawberry Square, Harrisburg, Pennsylvania, 17101. 4. In the management and operation of the business, Decedent was aided by his father, Isaac L. Mishkin, who is also actively engaged in the retail apparel business in Harrisburg, Pennsylvania and has operated a separate women's apparel business, known as The Plum, for a period in excess of 40 years. /%W 5. Decedent, who had undertaken a career change in the two months immediately prior to his death, and who, at the time of his death, was actively matriculated at the Temple School of Pharmacy in Philadelphia, Pennsylvania, intended to wind down the operation of The Plum Sport and was taking the following steps to do so: a. Prior to Decedent's death, a termination of the commercial lease for The Plum Sport had been negotiated for December 31, 2012; b. Decedent had arranged to consign inventory from The Plum Sport to his father's business, The Plum, in an effort to secure the best liquidation price for the business assets. 6. If sold at a forced sale, only a small fraction of the true value of the business could be realized since the greatest asset of the business is the good will of customers for which a forced sale could not compensate. 7. Petitioner has received notice of creditors of the business, including but not limited to commercial rent, utility providers, outstanding vendor invoices, and tax obligations of the business, which require immediate payment. 8. Petitioner by reason of the facts set forth is of the opinion that it will be in the best interest and to the advantage of the estate and all parties interested therein that petitioner continue the Decedent's business, with the cooperation, assistance and guidance of Decedent's father, Isaac L. Mishkin, subject to the approval of this Court. 9. Under 20 Pa. Cons. Stat. § 3314, the Court may authorize the personal representative to continue the Decedent's business for the benefit of the Decedent's estate. [This space left intentionally blank.) WHEREFORE, Petitioner requests that, pursuant to 20 PA. Cons. Stat. § 3314, the Court grant leave and authority to petitioner, Holly A. Mishkin, Administratrix of the Estate of Shawn M. Mishkin, Deceased, to continue the operation of Decedent's women's apparel business, known as The Plum Sport, until the business and its parent Pennsylvania Subchapter "S" Corporation, Plum Sport, Limited, can be wound down and terminated. Respectfully Submitted, Date: l (-~7 -1~--. ~®'1 Shelly J. Kunkel, Esquire Supreme Court ID No. 64485 Wion, Zulli & Seibert 109 Locust Street Harrisburg, PA 17101 (717) 236-9301 IN THE MATTER OF IN THE REGISTER OF WILLS ESTATE OF SHAWN M. MISHKIN, CUMBERLAND COUNTY, PENNSYLVANIA Deceased ESTATE NO. 2012-01211 VERIFICATION I, HOLLY A. MISHSKIN, hereby certify that the facts set forth in the foregoing pleading are based upon information which I have furnished to counsel, as well as upon information which has been gathered by counsel and or others acting on my behalf in this matter. The language in the pleading is that of counsel and not my own. I have read the pleading, and to the extent it is based upon information which I have given to counsel, it is true and correct to the best of my knowledge, information and belief. To the extent that that content of the pleading is that of counsel, I have relied upon counsel in making this Verification. I hereby acknowledge that the facts set forth in the aforesaid pleading are made subject to the penalties of 18 Pa.C.S.A. § 4904 relating to unsworn falsification to authorities. z~ Z ~~,~, Dated: Holly .Mishkin