Belinda Stronach Is Being Sued By Her Parents

One of Canada’s top business leaders is suing his daughter, two grandchildren and others for allegedly mismanaging the family’s assets and trust funds. Frank Stronach, who started the autoparts business Magna International, and his wife have filed a $500-million-dollar lawsuit in Ontario Superior Court, alleging it was a last resort after much effort over two years to resolve the matter. Thoroughbred Daily News reports the couple accuses Belinda Stronach, chairman and president of The Stronach Group that runs horse racetracks around the world, of conspiring by “unlawful actions” against the best interests of other members of the Stronach family. Belinda Stronach has denied the allegations and will fight them. In a statement last night, she said she loves her dad, but added “Family relationships within a business can be challenging.

Frank and (wife) Elfriede Stronach regret having to commence proceedings in the Ontario Superior Court against their daughter Belinda, Alon Ossip and others,” the legal team for the auto-parts tycoon said in a press release. “They only did so as a last resort, after having made considerable efforts over a period of almost two years to resolve the matters at issue on a consensual basis.”

The Canadian Press with files from CTV News

Photo Credit: Brett Gundlock / National Post via The Financial Post



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Scott Fox
Scott Fox