Stronach civil case lawsuit settled out of court, says company
Frank Stronach's daughter, Belinda, says she is 'very pleased' litigation has been resolved
The Stronach Group announced that a lawsuit filed by Frank Stronach's son and granddaughter regarding the management of the family’s wealth has been settled out of court.
The company, led by Frank Stronach's daughter, Belinda Stronach, shared the news in a statement on Wednesday. Belinda expressed her satisfaction with the resolution, stating she is "very pleased" that the legal dispute with her brother Andrew and niece Selena has been resolved. She added that the family and company are now focused on moving forward.
The settlement's terms remain confidential, and the involved parties have agreed not to provide further comments.
The lawsuit, initially filed in 2019 by Andrew and Selena Stronach, accused Belinda, the chairwoman, CEO, and president of the company, of mismanaging family trusts for personal gain.
In a related matter, Selena Stronach filed a motion in July seeking disclosure of any documents concerning complaints of sexual misconduct against her grandfather, Frank Stronach, or any related settlements. However, an Ontario court dismissed her request last month, stating there was no evidence such documents existed.
Frank Stronach, who faces charges of sexually assaulting 10 complainants dating back to 1977, has denied any wrongdoing, attributing the accusations to financial motives. A hearing for the case is set for early October.
