Kelowna siblings feud over $65-million real estate company
Four siblings battling over the $65-million Kelowna real estate and development company their parents left to them, have found themselves in much the same position following their latest court proceedings.
Following two days in court, B.C. Supreme Court Justice Steven Wilson refused to order that a trial should take place to resolve the lengthy and complex litigation the four Weisstock children are involved in.
According to a Feb. 10 B.C. Supreme Court decision, control over the family company, Witmar Holdings Ltd, has split the four siblings, with Walter and Anthony (Tony) Weisstock on one side, and Albert Weisstock and his sister Silvia Gerard on the other.
The decision says Witmar Holdings was formed more than 40 years ago by Wille and Maria Weisstock. The couple is now deceased but left their $65-million company to their four kids giving them each a 25 per cent share.
It's unclear when the relationships soured but in 2011 Albert was fired from running the day-to-day operations of the company. In 2013 he was removed as a director.
"It was alleged that he ran the affairs of the company poorly, and there was a suggestion of some impropriety," Justice Wilson said in the decision. "This was disputed by (Albert), and he filed a wrongful dismissal claim in 2012."
However, more than a decade later, that matter has never been resolved.
In this case, Albert, with his sister Silvia on his side, filed a legal suit against Walter and Tony, saying the affairs of Witmar Holdings had been conducted in a manner that is "oppressive or unfairly prejudicial to him."
Albert and his sister want a judge to order that the company be wound up.
Walter and Tony argued that their conduct has not been oppressive or unfairly prejudicial.
Walter and Tony also argued the sibling dispute should go to a full trial to be resolved because there are significant conflicts in the evidence.
Albert and Silvia said a judge would be in the best position to determine the outcome without a trial.
"The evidence on this application fills four binders. It is inevitable that there are differences in the various parties’ versions of events," the decision said.
According to the decision, Walter argued it would unreasonable for Albert to expect that he would continue to manage the company and serve as a director when his termination is still in dispute and has not been resolved.
"More importantly that he cannot be heard to complain about his exclusion as a director when he commenced litigation against the company," the decision said.
The decision delved into the complex litigation over how the legal dispute should be resolved.
However, Justice Wilson passed the decision of whether the case should go to trial along to the judge that will eventually hear the case.
The Justice's decision now leaves the four siblings in exactly the same position, minus their legal costs.
READ MORE: Kelowna 'Crown Jewel' latest battlefield for Callahan brothers in $300 million family feud
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