Frank Stronach, the 86-year-old Canadian business titan who is renowned within the Thoroughbred industry as a breeder and owner of racehorses and for building North America’s largest conglomerate of racetracks, filed a bombshell lawsuit in a Toronto court Oct. 1 alleging that the daughter he appointed to run his empire, Belinda Stronach, has mismanaged the family’s chief assets and trust funds while forcing her father out of control of the fortune he created. […]
The 73-page lawsuit, which TDN obtained from the Ontario Superior Court of Justice, lists 39 demands for relief that Frank Stronach is seeking via court trial, including the removal of Belinda Stronach and Ossip from all corporate officer and trustee positions related to the Stronach empire.
Well this rates an 11 on the schadenboner scale.
That is what he gets for turning his business over to a liberal.
Dogs are loyal-Peter MacKay
Who has donated more to the Liberal party? That person will have friends on the bench.
Heh, good one.
A Political Barbie.
The posted article is from an obscure newsletter directed to rich racehorse owners. I wonder if the corporate media cartel knows about this, given that it involves Liberals?
My mistake. The G&M features this as a lead story today, so it will be part of the major media discussion. No references to the cozy Liberal ties, though.
Isn’t she a friend of Bill Clintons?
Was wondering what happened to the lovely Belinda who swung right and left to get higher on the political pole then fell flat.
Peter must be smiling now.
Here’s more:
https://www.newswire.ca/news-releases/stronach-litigation-696737761.html
Coups inside companies controlled by families are nothing new. The McCains are well-known for squabbling with their fellow siblings and the Billeses, of Canadian Tire fame, were in the news for similar reasons.
Like Ann Landers once wrote in one of her columns, the upper crust is a bunch of crumbs held together by a lot of dough.
landers ought to know, she had an ongoing cat fight with her sister abby also an advice columnist, for years.
https://mom.me/entertainment/18772-messy-celebrity-siblings-feuds/item/dear-abby-and-ann-landers/
then there was the time she got caught recycling columns.
feuds are common amongst the top 1%ers:
https://www.nytimes.com/interactive/2016/business/media/sumner-redstone-saga.html
I am inclined to side with Belinda on this. It could very well be that Frank created a non-viable entity with the race horse business, and she is trying to contain the damage, and moved to stop him from doing more harm.
The horse business is for people with money to burn. Maybe the money Frank needed for burning had been allocated to other ventures.
When you’re 86 years old and waiting to die, just cash your $50 million annual paycheque and STFU.
Indeed the apple doesn’t fall far from the tree. Clearly they deserve each other.