Television creator and puppeteer, Sid Krofft, at the age of 94, is seeking an expedited trial for his lawsuit against his brother, Marty Krofft, and other related Krofft entities. The lawsuit accuses them of being late in paying nearly $500,000 owed as part of a buyout agreement. Sid Krofft’s attorneys have filed court papers requesting a trial within 120 days of the scheduled hearing on September 1st.
In addition to the financial dispute, Sid Krofft’s attorney, Todd M. Wolfe, has stated that his client suffers from melanoma and has undergone surgery and immunotherapy for the past year. These treatments have left Sid Krofft with chronic pain and various side effects, making eating difficult. Furthermore, Sid Krofft also has atrial fibrillation, which puts him at risk for serious health complications.
Sid Krofft is seeking at least $470,000 in compensatory damages, punitive damages, and a declaration of the rights of the parties involved. He also wants the court to grant him access to corporate records of all funds received since May 2017.
The defense attorneys, however, deny any liability on behalf of their clients and argue for the dismissal of the case against them.
Sid and Marty Krofft, both born in Montreal, are renowned for creating popular children’s television and variety shows in the 1970s. Some of their notable works include “H.R. Pufnstuf,” “Land of the Lost,” and “Sigmund and the Sea Monsters.”
According to the court papers, Sid Krofft has been frugal throughout the years and still resides in the same home he moved into in 1974. On the other hand, his brother, Marty, has lived lavishly and has frequently borrowed large sums of money from Sid. This generosity later led to an uncomfortable situation where Sid had to ask his brother for financial support.
Due to the turbulent nature of their personal and financial relationship, Sid and Marty Krofft agreed in May 2017 that Marty and the Krofft companies would buy out Sid’s shares in the entities, leaving a zero balance. The agreement stipulated that Sid would receive a car and $10,000 per month for life starting in July 2017. However, the payments abruptly stopped in February 2019, and Sid alleges that Marty has deceived and defrauded him regarding the solvency of the Krofft entities while promising to pay him what is owed.
Overall, Sid Krofft is seeking justice for the alleged breach of contract, negligence, financial elder abuse, and unjust enrichment, while the defense maintains their innocence and calls for the dismissal of the case against them.
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