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Legal

April 30, 2010

The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

The plaintiffs released a joint statement yesterday stating 18 new hedge funds had joined the litigation against Porsche Automobile Holding SE and two former executives, Wendelin Wiedeking and Holger Haerter, accusing them of lying over their intentions towards Volkswagen.

Toyota agrees to pay $16.4 million fine

April 20, 2010

Toyota Motor Corporation, the family-controlled automaker, announced yesterday it would pay the $16.4 million fine imposed on the company by the US Department of Transport.

Toyota said it had taken the decision "in order to avoid a protracted dispute and possible litigation, as well as to allow us to move forward fully-focused on the steps to strengthen our quality assurance operations."

US Department of Transport to fine Toyota $16.4 million

April 6, 2010

The US Department of Transport has announced that it plans to fine Toyota Motor Corporation $16.4 million after the family-controlled automaker failed to notify US transport regulators about defects that allegedly cause unintended acceleration.

Abdullah brothers banned following dodgy Damas deals

March 22, 2010

Tawhid, Tawfique and Tamjid Abdullah, the second-generation brothers who run family-owned jewellery group Damas, have been fined for withdrawing unauthorised funds and forced to resign from the board of the company by the Dubai Financial Services Authority (DFSA)

Agnelli heiress loses inheritance court case

March 18, 2010

Margherita Agnelli de Pahlen, daughter of the late Fiat chairman Gianni Agnelli, yesterday lost the court case she brought against her mother and three of her father’s advisors in which she claimed she had been denied her full inheritance.

Margherita Agnelli de Pahlen, daughter of the late Fiat chairman Gianni Agnelli, yesterday lost the court case she brought against her mother and three of her father's advisors in which she claimed she had been denied her full inheritance.

Fourth generation Agnelli de Pahlen claimed her father's estate had up to €1 billion in undeclared assets that had not taken into account and had called for a fuller accounting of the estate.

Five dysfunctional family businesses to learn from

March 17, 2010

The perils of owning and managing a family business are a regular feature of www.campdenFB.com, writes Katie Barker. Sibling rivalry, a lack of succession planning and leaders who are unable to let go are just some of the problems that can result in family feuds, PR catastrophes or even the sale of the business

Former Thai PM has assets seized over family business cover-up

March 1, 2010

Thailand’s former prime minister, Thaksin Shinawatra, had more than half of his assets seized by the supreme court on Friday after nine justices agreed he had deliberately hidden his wealth and concealed his shareholdings in the family business.

Thailand's former prime minister, Thaksin Shinawatra (pictured), had more than half of his assets seized by the supreme court on Friday after nine justices agreed he had deliberately hidden his wealth and concealed his shareholdings in the family business.

Toyoda admits rapid expansion caused recall crisis

February 24, 2010

Akio Toyoda, the beleaguered fourth-generation head of Toyota, admitted that rapid expansion at the family company caused it to put growth ahead of safety and quality, resulting in the current recall crisis.

Toyoda to testify over safety fears as US government committee issues subponea

February 19, 2010

Toyota president and CEO Akio Toyoda has agreed to appear before the US House of Representatives’ Committee on Oversight and Government Reform after being summoned by committee chairman Edolphus Towns yesterday.

Toyota president and CEO Akio Toyoda (pictured) has agreed to appear before the US House of Representatives' Committee on Oversight and Government Reform after being summoned by committee chairman Edolphus Towns yesterday.

The fourth-generation head of the Japan-based motoring giant confirmed he will attend a hearing on 24 February to testify against allegations that the problems associated with the millions of recalls Toyota has been forced to make "may have been the direct cause of serious injury and even death."

Dogan family wins court victory after relinquishing executive positions

February 2, 2010

Turkey’s Dogan family, owners of one of the country's biggest conglomerates, has won a small victory after a court revoked part of a huge set of tax fines against the media arm of its empire.

Turkey's Dogan family, owners of one of the country's biggest conglomerates, has won a small victory after a court revoked part of a huge set of tax fines against the media arm of its empire.

Tax inspectors alleged that Dogan Yayin Holding AS had falsified the sale date of a 25% stake in the group's TV unit to Axel Springer AG of Germany. The court has now cancelled a fine worth 772.5 million Turkish lire ($516 million).