Wednesday, December 15, 1999

Estate’s interim board
says Lindsey should
step down

By Rick Daysog


The Bishop Estate's interim board is urging ex-trustee Lokelani Lindsey to permanently resign from the trust.

One day after Henry Peters submitted his permanent resignation as a Bishop Estate trustee, the new board said yesterday it is prepared to go to trial to remove Lindsey in order to preserve the trust's valuable tax-exempt status.

The interim board has alleged that Lindsey, Peters and former Bishop Estate chairman Richard "Dickie" Wong jeopardized the estate's tax-exempt status by taking excessive compensation, neglecting the estate's core educational mission and mismanaging trust assets.

Probate Judge Colleen Hirai scheduled Lindsey's removal trial to begin on Thursday.

The interim trustees -- retired Adm. Robert Kihune, former Iolani School headmaster David Coon, retired Honolulu Police Chief Francis Keala and American Savings Bank executive Constance Lau -- said they are pleased that Peters stepped down, noting that the move brings the estate one step closer to preserving its tax-exempt status.

"We look forward to the day when the Kamehameha Schools will be beyond the controversies that have engulfed it over these past few years," the board said.

"As that day approaches, we will focus all of our efforts on the educational mission as expressed in Princess Pauahi's will."

Meanwhile, Wong appeared in District Court yesterday, surrendering to authorities after a grand jury last week indicted him on perjury charges.

Wong posted $2,000 bail and was released on his own recognizance, said his attorney, Eric Seitz.

Wong is expected to plead not guilty to the perjury charges at his arraignment Monday before Circuit Judge Michael Town.

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