Evening star., 1962-12-20


recover interest and damages I
by Irving S. Lichtman.
. Indian Lake Estates, Inc.
Ackerman Of Washington who
sold more than 5000 lots in its
Florida development near
Tampa to residents Of the
Washington area.
Now owned by Alaska Oil
a. Mineral Co., Inc, of New
York, the present management
Of Indian Lake Estates is seek
ing recovery Of more than 81
million and possibly as much
as "a or IS million, which 1t
has charged represents usuri-
Gus interest charges collected
by the Lichtman group in vio-
lation of the District of Colum-
bia usury statute and the loan
shark law.
Decided by HOltzOff
When the original suit was
considered in the United States
District Court here in 1861,
Judge Holtzoff handed down
a summary judgment in which
he ruled the suit could not be
maintained drought to triaD
because Of a settlement or
compromise agreement which
Mr.. Ackerman reached with the
defendants before he sold the
property to the New York firm
in 1859.
In reversing the District
Court decision, the Court of
Appeals today held that If the
original agreements which were
entered into with the Wash
1ngton group supplying funds
for the development were IL
legal. then they could not be
compromised by the later settle
ment agreement. It ruled that
the suit could be maintained
and brought to trial.
"If the original contracts and
engagements were illegal and
void. as the court assured for
purposes of appellees' motion,
the claims of the complaint
present complex issues of fact
and law as well as some which
are mixed questions of law and
fact, which are not susceptible
Of disposition by summary
Judgment" the appellate court
decision read in part. 1t was
handed down by Judges Ed
gerton, Bastian and Burger.
8 Others in Group
In addition to Mr.. Lichtman.
the other nine members of the
Washington group named as
defendants in the suit include:
Jack L. Friedlander, Robert A.
Philipson, Albert w. Levitt,
David I. Allentuck, Harry Ra-
coosin, Sam Gildar, Philip
Robin. Maurice E. Kupersmidt
and Herman Eisenburg.
p. Murray Callahan of
Brookart. Becker & Dorsey, who
are representing Indian Lake
Estates, indicated the firm
hopes to bring the case to trial
in District Court at the earliest
possible time. Ralph E. Becker
OF the same firm argued the
case in the Court of Appeals.
Washington area residents
viii have a substantial interest
In the final settlement because
recovery Of any excess interest
charges and damages would
strengthen the firms financial
position to carry out develop
ment Of the real estate project.
The clubhouse already has
been completed and around $50
homes have been built. Many
others are in the planning
stage, 1t is understood.
Represented by Bress
David @. Bress, prominent
Washington trial attorney, is
representing the 10 Washing
ton defendants, who have
participated in a number of
joint ventures in the last 10
years.
These have included the
Martin group. the Lake Wales
Group and the Associated Lake
Groups Of the District of
Columbia. They have financed
developments and projects of
various kinds in this area as
well as in Florida.
The Lake Wales Group and
the Associated Lake Groups
were the ones involved in
financing Indian Lake Estates.
Mr.. Lichtman is board chair
man Of the new District OF
Columbia National Bank and
president Of Disc. Inc. Mr..
Friedlander is a Washington
attorney and Mr.. Philipson Is
4Faa m0NEaVs ~ nAnA T,aA