Frank Stronach sues daughter Belinda for allegedly mismanaging family fortune

An Ontario business lord is suing his daughter, dual grandchildren and others for allegedly mismanaging a family’s resources and trust funds.

Frank Stronach, a male who started a auto-parts business Magna International, and his mother Elfriede have launched a lawsuit in Ontario Superior Court and contend they have finished so as a final resort.

Stronach says in a matter that a integrate has done “considerable efforts” over a final dual years to solve a matter.

Thoroughbred Daily News reports a integrate have indicted Belinda Stronach, a authority and boss of The Stronach Group that runs equine racetracks around a world, of conspiring by “unlawful actions” opposite a best interests of other members of a Stronach family.

The suit, that has not been proven in court, seeks some-more than $500 million in damages.

‘His allegations are untrue’

Belinda Stronach has denied a allegations.

“Family relations within a business can be challenging,” she pronounced in a matter Wednesday night.

“My children and we adore my father. However, his allegations are wrong and we will be responding rigourously to a matter of explain in a normal march of a justice process.”

A spokesperson for The Stronach Group CEO Alon Ossip, who is also named in a suit, called a allegations “baseless and are not grounded in fact or reality.”

“Alon has always celebrated his obligations and acted in good faith to safety and grow a Stronach family’s resources and to strengthen a interests of all members of a family,” Paul Deegan pronounced in a statement.

“This is a brawl between Stronach family members that should be resolved between family members.”

Article source: https://www.cbc.ca/news/business/frank-belinda-stronach-lawsuit-1.4858150?cmp=rss