Happens in the best of families...

Hollywood producer John Davis (that's right - son of Marvin) isn't hurting from a nasty court battle with his sister, Patricia Davis Raynes. Davis, who gets profiled by Bloomberg News L.A. bureau chief Seth Lubove, has produced a whopping 76 movies for theaters and television - 17 in the past two years alone. His primary studio is Fox, which of course is the place that Marvin controlled before selling it to Rupert Murdoch. In the 2005 suit, Patricia alleges that Marvin, her mother, Barbara, John, and three other siblings "looted'' a trust fund set up by her paternal grandfather, Jack. It was Jack who created the original Davis Oil Co. that was the foundation of the family's wealth. "This is a case about greed, theft and betrayal,'' Patricia's complaint says. "This is a case about how Marvin Davis, who was one of the wealthiest men in America, systematically stole hundreds of millions of dollars from the trust fund created for his oldest daughter." I smell a TV movie.

Most damaging to John is his sister's assertion that his career has been propped up by Marvin's largess and favoritism at the expense of her own career and trust fund. She alleges, for instance, that when their father took over what was then called Twentieth Century Fox (in partnership with one-time fugitive commodities trader Marc Rich), John's trust received a 10 percent interest in the company, while all the other siblings received only 7.5 percent.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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