TLDR
- Ondo Finance’s succession dispute has expanded into Hawaii as family members challenge control over Nathan Allman’s estate and company stake.
- Dr. Lani Clinton and investor David Chen want a limited conservatorship over Kathleen Allman’s share of the estate.
- Kathleen Allman disputes the petition and claims it is part of an effort to weaken her authority in the ongoing Delaware case.
- The legal fight also covers Ian De Bode’s leadership role, board appointments, and a disputed compensation package.
- Nathan Allman’s death without a will left control of his Ondo Finance equity and ONDO token holdings tied to probate proceedings.
Ondo Finance faces a wider succession dispute after new Hawaii filings challenged who should control founder Nathan Allman’s estate. Allman died without a will in May at age 32, leaving his company stake and ONDO token holdings unresolved.
His half-sister, Dr. Lani Clinton, and investor David Chen asked a Hawaii court to create a limited conservatorship over Kathleen Allman’s estate interest. Their petition covers a controlling equity position and a large ONDO token holding.
The petition says the token position includes unlocked tokens and more tokens scheduled to unlock during the next three years. Kathleen argues that this makes the fight over estate management tied to Ondo Finance governance. Chen is an early Ondo backer whom De Bode sought to add to the board.
Estate Control Remains at Center
A probate court named Kathleen and Lawrence Allman as Nathan’s heirs after his death. Ian De Bode then took over as acting CEO, while Kathleen later appointed herself and Tahnee Towill to the board.
Kathleen also tried to remove De Bode from company roles. However, a Sept. 3 court order kept him as acting CEO and a board member while the Delaware dispute continued.
Clinton’s filing questioned whether her 77-year-old mother could manage complex business and financial matters. The petition asked the court to review Kathleen’s medical records and consider an independent evaluation of her decision-making ability.
Kathleen rejected those claims. In a Sept. 16 filing, she accused the petitioners of trying to replace her with a more favorable fiduciary and delay the Delaware case. She also said the Delaware court had rejected claims that she and Towill could not serve as directors.
Delaware Battle Continues Over Control
Kathleen’s Delaware lawsuit accuses De Bode of taking corporate control without proper authority. It also challenges a compensation package that included a $900,000 salary and bonus, a $1 million signing bonus, 26 million restricted token units, and equity awards.
The dispute now spans estate control, board authority and executive compensation. Separate CoinCentral coverage dated Sept. 11 showed continuing U.S. regulatory questions around stock-linked perpetual products. The courts have not resolved the central control dispute or the estate’s governance rights.
