The California Court of Appeal has ruled...

The California Court of Appeal has ruled in favor of Barron Hilton in reversing a trial court on the disposition of a 27.4% interest in Hilton Hotels left by his father, Conrad Hilton, in 1979. Reversing Los Angeles County Superior Court Judge Robert I. Weil, the appeal court ruled invalid a conversion of the Conrad N. Hilton Foundation to a so-called public support organization to avoid having “excess business holdings” under federal tax law. The conversion, if upheld, could eliminate Barron Hilton’s rights under his father’s will to buy the bulk of the stock. A Hilton Hotels officer told New York securities analysts last Friday that negotiations were under way to settle state and federal litigation in the case.