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Feud

May 22, 2018

Disagreements within a family business are potentially ruinous and this is especially true where two competing family interests own 50% each as the ensuing indecision can paralyse decision making and action can either be blocked or stalled.

Disagreements within a family business are potentially ruinous and this is especially true where two competing family interests own 50% each as the ensuing indecision can paralyse decision making and action can either be blocked or stalled.

June 14, 2017

With the summer wedding season upon us, Rosie Schumm, partner at London law firm Forsters LLP, explains the importance of the preparation of pre-nuptial agreements before the big day to protect family wealth.

With the summer wedding season upon us, Rosie Schumm, partner at London law firm Forsters LLP, explains the importance of the preparation of pre-nuptial agreements before the big day to protect family wealth.

In recent years there have been four major developments in the evolution of nuptial agreements, known colloquially as ‘pre-nups’ (signed before the marriage) or ‘post-nups’ (signed after the marriage).

April 4, 2017

Well planned and managed trusts can be a huge help in managing family business wealth and legacy but what happens when the relationship between trustees and beneficiaries breaks down? Richard Manyon, disputes resolution partner at Payne Hicks Beach, takes a look.

Well planned and managed trusts can be a huge help in managing family business wealth and legacy but what happens when the relationship between trustees and beneficiaries breaks down? Richard Manyon, disputes resolution partner at Payne Hicks Beach, takes a look.

August 12, 2015

Family members from Spanish retail empire El Corte Ingles have gone public with concerns about foreign investment in the privately-owned family business.

Family members from Spanish retail empire El Corte Ingles have gone public with concerns about foreign investment in the privately-owned family business.

The company announced in July that it had approved a €1 billion financing deal by Sheikh Hamad Bin Jasim Bin Jaber Al Thani, Qatar’s former prime minister, through his company Primefin.

January 26, 2015

Not one but two family business dynasties are in court this week, in generational battles questioning the decision-making ability of aging family members. 

Not one but two family business dynasties are in court this week, in generational battles questioning the decision-making ability of aging family members.

In the US, Tom Benson, the billionaire owner of pro-American football team the New Orleans Saints, will be in court over the future control of his sports and business empire.

And starting today in Southern France, 10 people will be answering to allegations that they capitalised on the mental frailty of L’Oreal heiress, Liliane Bettencourt.

September 4, 2014

Market Basket third gen Arthur S Demoulas, who experienced huge staff and customer backlash when he fired his cousin from the helm of the family business, has still come out on top in the long-running family feud, according to a family business expert.

Market Basket third gen Arthur S Demoulas, who experienced huge staff and customer backlash when he fired his cousin from the helm of the family business, has still come out on top in the long-running family feud, according to a family business expert.

The New England-based supermarket chain, which has annual revenues of $4 billion (€2.9 billion), became the target of staff-led rallies calling for Arthur T Demoulas to be reinstated after his ousting in a board vote led by his cousin.

August 28, 2014

A second-generation chief executive who was ousted from family business supermarket chain Market Basket in June has now bought out the cousin who removed him the top spot, in a $1.5 billion deal.

A second-generation chief executive who was ousted from family business supermarket chain Market Basket in June has now bought out the cousin who removed him the top spot, in a $1.5 billion deal.

Completed on Wednesday evening, the deal brings to an end a more than two-decade long family feud that nearly crippled the firm. 

Arthur T Demoulas’s side of the family now controls all of the business, after purchasing the 50.5% stake of Market Basket it did not own from cousin Arthur S Demoulas.

July 30, 2014

The ousted chief executive of US supermarket chain Market Basket has gained a level of support from employees that is uncommon outside of family businesses, according to a Harvard Business School academic.

The ousted chief executive of US supermarket chain Market Basket has gained a level of support from employees that is uncommon outside of family businesses, according to a Harvard Business School academic.

Staff and customers have been boycotting the multi-billion dollar company since Arthur S Demoulas, who owns 51% of the company, removed his cousin Arthur T Demoulas from office last month, arguing that a popular profit-sharing scheme was cutting into shareholder profits.

June 25, 2014

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business. 

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business. 

In a statement, the board, chaired by DeMoulas’s cousin and rival Arthur S Demoulas, said the 58-year-old would “not retain any management responsibilities moving forward”.

Market Basket, founded initially as a small grocery store in 1917, has annual revenues of more than $4 billion (€2.9 billion) and employs 21,000.

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