Baltia Air Lines Inc. (fka BLTA)

[kayakzz]

It sounds as if Igor died intestate, meaning he did not have a will. What happens next is controlled by a statute in NY. Generally speaking, if a relative(s) can be found, they get his estate, including the shares. If not, the whole estate (including the shares) escheat to the state of NY. (Escheat means the state takes possession of and owns). The state of NY would liquidate those shares relatively quickly.

My experience tells me a relative will come out of the woodwork and claim the prize. I didn't know Igor or his family circumstances but that is what happens most of the time. That relative might hold or sell, who knows.



https://www.nycourts.gov/courthelp/WhenSomeoneDies/intestacy.shtml