Stronach v. Stronach

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stark
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Wed Oct 10, 2018 1:11 pm

A bitter and divisive power struggle that has been simmering behind the scenes for years within the Stronach family is about to boil over very publicly in a court of law.
http://www.thoroughbreddailynews.com/st ... ok.twitter
I've found it easier to tear up tickets at 8/1 instead of 8/5.
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Dusty
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Wed Oct 10, 2018 2:21 pm

stark wrote:
Wed Oct 10, 2018 1:11 pm
A bitter and divisive power struggle that has been simmering behind the scenes for years within the Stronach family is about to boil over very publicly in a court of law.
http://www.thoroughbreddailynews.com/st ... ok.twitter

WOW - this is NASTY!!!
May they run with the WIND
BaroqueAgain1
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Wed Oct 10, 2018 3:33 pm

It's probably going to take a fleet of forensic accountants to figure out whether there has actually been financial malfeasance by the defendants. :shock:
I can't help but think about the fact that Frank is 86. I know some octogenarians are still mentally sharp...but many of them aren't. Is this a case of a proud, stubborn, elderly man having a fit because the family decided to take the car keys away from him?
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ElPrado2
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Wed Oct 10, 2018 3:48 pm

So, to translate...
Frank got bored just having a huge commercial empire, told Belinda she was in charge, and invaded Austria.
Belinda likely messed up an investment or 2 and along with one of Frank's trusted accountants/lawyers has been trying to fix things and not always succeeding.
Frank finally, after taking over Austria, learned that Belinda and the deputy were not always successful, told Austria to behave if it knew what was good for it and flew back to yank on the reins, throw Belinda into the back pasture and get the horse collar back on his former deputy and get him back in the furrow.
No one listened. The wife liked having new clothes, and the kids had tossed the uniforms and discovered that the WWF had some cute girl costumes again. They pretty much yelled "Hell no, we won't go!"
This eventually caused Frank to have yet another tantrum, this time in court, since yelling doesn't seem to have any effect any more.
WarBiscuit
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Thu Oct 11, 2018 1:05 pm

Frank Stronach Sues Daughter Belinda For Mismanagement

www.bloodhorse.com/horse-racing/article ... management


WarBiscuit
"One horse-laugh is worth ten thousand syllogisms. It is not only more effective; it is also vastly more intelligent." H.L. Mencken
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ElPrado2
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Thu Oct 11, 2018 3:50 pm

No, in Frank's case, it was taking away the keys to the bank vault.
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Sparrow Castle
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Tue Nov 06, 2018 5:51 pm

No matter what you think of the Stronach businesses, I think this is very sad.

New Lawsuit Alleges ‘Liquidity Crisis’ at The Stronach Group
Exactly one month after Frank Stronach sued his daughter in a $520-million (CDN) civil suit claiming she is mismanaging the family’s financial empire while forcing her father out of control of the fortune he built, the son of the 86-year-old Thoroughbred magnate has now launched his own lawsuit against his sister alleging malfeasances that mirror many of his father’s claims.

A chief allegation made by Andrew Stronach, 50, against Belinda Stronach, 52, claims that he is suffering because of a “complete breakdown in trust and confidence” between family members over control of trust finds and business operations.

The point where this power struggle crosses the line from private family spat to a public item of importance within the horse racing community centers on The Stronach Group (TSG), a complex tangle of 253 family-owned businesses and trusts whose portfolio includes six United States tracks–Santa Anita Park, Golden Gate Fields, Gulfstream Park, Laurel Park, Pimlico Race Course and Portland Meadows.

Andrew Stronach, in his Nov. 1 lawsuit that TDN obtained from the Ontario Superior Court of Justice, claims that as a result of his sister’s “serious misconduct,” TSG is currently embroiled in a “liquidity crisis and is actively attempting to sell off valuable real estate and other assets in order to meet the obligations of its constituent companies.”
More: http://www.thoroughbreddailynews.com/ne ... ach-group/
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Katewerk
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Tue Nov 06, 2018 8:19 pm

He must have missed her career in politics...
Catalina
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Tue Nov 06, 2018 8:51 pm

ElPrado2 wrote:
Thu Oct 11, 2018 3:50 pm
No, in Frank's case, it was taking away the keys to the bank vault.
LOL...
Catalina
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Tue Nov 06, 2018 8:54 pm

Katewerk wrote:
Tue Nov 06, 2018 8:19 pm
He must have missed her career in politics...
Probably doesn't want to talk about it. His own venture into Austrian politics pretty much flopped.
stark
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Mon Nov 12, 2018 4:59 pm

Paulick interview with Belinda Stonach and Tim Ritvo covers a wide variety of topics, including shooting for a BC @ Laurel in a few years.

https://www.paulickreport.com/news/ray- ... ys-assets/
I've found it easier to tear up tickets at 8/1 instead of 8/5.
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