Family Fight Ends — RI Billionaire and Millionaire Settle

Family Fight Ends — RI Billionaire and Millionaire Settle

After two-plus years of charges and counter-charges between members of the late billionaire Malcolm “Kim” Chace’s family, the warring cousins have settled.

 

The legal battle that has eaten up the court's time with claims of misuse of funds is all to be forgotten.

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At the center of the dispute is the lawsuit brought by Malcolm Chace that alleges misuse of tens of millions of dollars in trust monies by Arnold “Buff Chace,” his cousin.

 

Malcolm Chace is the son of the late billionaire Kim Chace -- a man who made in excess of a billion dollars through ownership of Berkshire Hathaway stock. The lawsuit was first filed in early 2022.

 

On Friday, in a joint statement, the two cousins issued a statement claiming all is fine.

 

The statement said the terms will remain confidential.

 

It is unclear how this settlement impacts ongoing litigation between Malcolm Chace and his stepmother, Elizabeth Chace.

 

See the charges and countercharges in the previous reports below.