Steel

FACTS AND HISTORY OF THE PROCEEDINGS

Plaintiff Cheryl Steel and defendant Lori M. Toccoli are sisters who serve as trustees of, and are beneficiaries of, related trusts which hold the estate of their deceased

1 parents. The parties entered into settlement agreements in 2017 and 2018 to resolve disputes over how the trusts’ assets should be sold and the proceeds distributed. In the 2017 settlement, the parties agreed to arbitrate any disputes regarding the application or performance of the settlement agreement. In the 2018 settlement agreement, the parties reaffirmed the arbitration agreement made in the 2017 settlement. They also specifically agreed to arbitrate (1) if they cannot agree upon an asset’s listing price, (2) any issues concerning the legitimacy of an offer, (3) any disputes concerning offers made by either of the parties, and (4) if, within two days after expressing written objections to an offer, the parties cannot agree to accept, reject, make a counteroffer, or otherwise unanimously proceed in response to an offer. Despite the settlement agreements and an arbitration conducted in 2020, attempts to sell assets have been unsuccessful, disputes have continued…