Leonard Cohen‘s manager has been exonerated of claims of financial wrongdoing following a 10-day trial in probate court.
Cohen, the Canadian songwriter and poet, died in 2016 at the age of 82. His children, Adam and Lorca, later accused Cohen’s manager, Robert Kory, of misconduct in his role as trustee of the Cohen estate.
In a ruling on March 23, a court-appointed referee found that Kory had fully and competently carried out Cohen’s wishes in his management of the estate.
“The disbursements made by Robert on behalf of the trust during the accounting periods were correct in amount and for proper purposes,” the referee wrote. “The Referee finds that each of Robert’s challenged actions were at all times reasonable and ethical, and conducted with the full knowledge and approval of Adam and Lorca.”
Adam Cohen had accused Kory of “self-dealing” and of overcharging the estate for various services. He and a successor trustee, Michael Seibert, objected to a long list of expenses incurred by Kory during his tenure, including $463 for Uber charges, $688 for an AT&T phone bill, $5628 for Apple Computer products, and $2000 for Canadian immigration and visa expenses.
The referee, retired judge Glen Reiser, rejected all of those objections. Reiser also faulted Adam Cohen for interfering in the sale of his father’s music catalog to Hipgnosis.
According to the ruling, Adam Cohen threatened to block the deal unless Kory agreed to reduce his management fee. Kory did agree to cut his fee from 15% to 12.25%, but due to the eight-month delay, Hipgnosis reduced its offer from $60 million to $58 million.
Adam and Lorca Cohen each collected $18 million directly from the sale, Kory collected $7 million, and the balance went to the family trust, of which Adam and Lorca are the beneficiaries.
The referee also faulted Adam Cohen for blocking the sale of his father’s archive, which includes 200 notebooks, as well as paintings, hats, instruments and other ephemera, and which was appraised at one point at $48 million.
Adam Cohen previously pursued his own musical career, and publicly struggled with the burden of his father’s legacy.
Kory testified at the trial, held in late January and early February, saying that Leonard Cohen had warned him while he was alive that his son might interfere in the management of the estate. Kory quoted Leonard Cohen as saying that his son might commit a metaphorical “patricide” in order to get out from his shadow.
“He said, ‘Look, my son is Hamlet,’” Kory said. “‘He’s a prince haunted by his father’s ghost who poisons everyone he touches… I want to make sure you’re making the final decisions.’”
Reiser also absolved Kory of any wrongdoing connected to the drafting of Cohen’s trust documents. Adam Cohen had accused Kory of retaining his position through fraud, alleging that Kory had conspired with Cohen’s estate planner to forge a document that made him the trustee. The referee found that Kory knew nothing about the estate planner’s actions, and that all parties had agreed that Kory should remain as the trustee after the discrepancy was first discovered.
Reiser’s recommendation will go to a probate judge, who will have the last word on whether to approve it. Kory may also file a motion for attorneys’ fees.
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