Krell Moves to new location

See update regarding the Krell Industries vs. JF Bicking & Co Connecticut court case on February 19 posted on Stereophile web site below:

”Updated 2/20/2025 (previously 2/12/25)

In a Connecticut courtroom on Wednesday, Kristofer D’Agostino, son of late Krell owner and CEO Rondi D’Agostino, won control over his own trust, opening a path for Krell to begin to get its ducks in a row and, if all goes well, reopen.

This was a probate hearing, intended to establish who would control the D’Agostino trust. Wil Buhler of "family holding company" JF Bicking had put forward a motion to have a third party administer the trust. Buhler apparently didn’t know that the proposed third-party administrator had already notified the court that he would not accept the role of trust administrator. The only alternative available to the judge was to allow Kris D’Agostino to administer his own trust.

According to Stereophile sources, once D’Agostino receives the certificate certifying his role as administrator, he will be able to gain control of the probate assets, which are said to include at least 70% of Krell. (The possible ownership by JF Bicking of the other 30% remains in dispute—a dispute that must be resolved in Delaware, where Krell Industries is officially registered.)

For many months, it was widely assumed—not only by Stereophile—that Kristopher D’Agostino did not intend to try to reopen Krell. That left JF Bicking as apparently the only horse in the race. Recent weeks have brought indications that Kristopher D’Agostino does indeed intend to pursue Krell’s reopening. We’re not business experts, but that intention and an undisputed 70% (and possibly larger) ownership stake would seem to put him in a position to at least make the attempt.—Jim Austin”

My comment: I am not an attorney but the above identifies more issues that must be resolved. The above says “The possible ownership by JF Bicking of the other 30% remains in dispute—a dispute that must be resolved in Delaware, where Krell Industries is officially registered”.

Unfortunately, this means more delays meaning I have no information when Krell Industries will reopen, etc.

@hgeifman don't forget this part:

Also involved, perhaps as an adviser to Kristofer, is Steven Javaherian, Krell dealer and proprietor of Florida–based dealership High Performance Stereo. In November, Javaherian set up a Connecticut limited-liability corporation (LLC) called Krell Audio.

And the saga continues!

This was a probate hearing, intended to establish who would control the D’Agostino trust. Wil Buhler of "family holding company" JF Bicking had put forward a motion to have a third party administer the trust. Buhler apparently didn’t know that the proposed third-party administrator had already notified the court that he would not accept the role of trust administrator. The only alternative available to the judge was to allow Kris D’Agostino to administer his own trust.

Why is "family holding company" in scare quotes, I wonder?

@jmera It appears JF Bricking has lost the battle for controlling ownership. The most telling thing I see is that Javaherian set up the LLC and not Kristopher. Tech 9 Auto, Kris's shop, is only about 50 miles away from High Performance Stereo that Javaherian owns. I want to know if the hifi shop "down the road," has the resources to "jump start," Krell. Javaherian at least is a high-end audio dealer that sells Krell. He likely knows the market far better than JF Bricking. 

Also, JF Bricking was supposed to offer Kristopher D'Agostino a buyout. Guess that was not a worthy offer or we wouldn't be here now. My guess is JF Bricking is fighting for a "piece of the pie," some controlling ownership because there is no money to recover. That's the best they can do, get some percentage going forward.