CANADA Canada - Billionaire Couple Barry & Honey Sherman Murdered at Home, Toronto, 15 Dec 2017 #23

[dotr]

Family of murdered billionaire Barry Sherman split by lawsuit over money

In a lawsuit, Matthew and Rebecca Shechtman are taking legal action against their cousins, Sherman’s children, other family members and administrators of trust

nationalpost.com

Ari Altstedter Jan 16, 2024 rbbm.

‘Personal Animosity​

In the lawsuit, the Shechtman siblings say the conflict between their mother and the Sherman children now extends to them. They say they are no longer on speaking terms with their cousins, which is affecting the disbursement of the trust. In the years since the killings, they say they’ve received nothing from the trust, which they allege in their suit is because of the “personal animosity” of the trustees''.

''The suit also says the relationships between the trustees has become dysfunctional, and that the various trustees are otherwise compromised. Jonathon Sherman is no longer on speaking terms with the other two trustees and has disavowed their communications, it says. And Glasenberg and Krawczyk have encouraged and helped Matthew and Rebecca Shechtman’s brother, Noah Shechtman, to sue them and their mother over a separate trust, which they say constitutes a conflict of interest and breach of fiduciary duty.''

 

[WINDSOR]

Some people had considered MS et al, as possible POI. I did not think so, as I did not know there was this 'trust fund' that the MS family could benefit from.

If one is following the money, and the MS family believed there was money coming to them upon the Sherman's deaths, then they become possible suspects.

If there is a trial, rather than an out of court settlement, I will be most interested in MS's testimony. I wonder if JS and his side are interested in a trial, where secrets may be revealed.

 

[FromGermany1]

I personally doubt that this trust was what was meant by the money promised to Mary. First and foremost, Mary isn’t a beneficiary of this trust as far as we know, so *none* of the assets in it can possibly go to her. Further, this trust was already established at least a year before Barry’s and Honey’s deaths (assuming the 2016 date in the name of the trust is accurate), whereas we have understood the gift to Mary to be coming or promised.

IMO this trust is a separate thing altogether, which has nothing to do with Mary or the money purportedly coming to her.

The main problem for the cousins is that the trust is *discretionary*. The question is— is there a legal basis to compel distributions to the Shechtman kids notwithstanding that the trust is discretionary? I don’t know the answer. We need more facts and a trust law expert. MOO

We don't know, from where Honey's "gift" of $500 mill. would have been conjured up by BS. He collected outstanding loans and similar, so maybe this was money for HS to own in the future. I think, he made sure or would have made sure, that HS directed the promised money to MS, because it was on her to give HER own money away (not BS). He would have thought, HS shouldn't be more generous than her own bank balance would allow. BS was himself generous, but IMO also with some ulterior thoughts always. So I think, he wouldn't have gifted $ 500 (or 300) mill. to MS directly, but only on the detour via HS.

 

[Lexiintoronto]

I personally doubt that this trust was what was meant by the money promised to Mary. First and foremost, Mary isn’t a beneficiary of this trust as far as we know, so *none* of the assets in it can possibly go to her. Further, this trust was already established at least a year before Barry’s and Honey’s deaths (assuming the 2016 date in the name of the trust is accurate), whereas we have understood the gift to Mary to be coming or promised.

IMO this trust is a separate thing altogether, which has nothing to do with Mary or the money purportedly coming to her.

RSBM
I think you’re right. I think the issue is with what Mary either falsely believes or wants others to believe, imo. I think she believes* the Shermco shares increased in value by $500 million between 2016-2017 and she’s entitled to $300M. Honey had less that $50M when she died. Where did Mary get the $300-500M numbers from?

* KD has said he believes Mary is behind her children’s current lawsuit.

 

[ldlager]

Family of murdered billionaire Barry Sherman split by lawsuit over money

In a lawsuit, Matthew and Rebecca Shechtman are taking legal action against their cousins, Sherman’s children, other family members and administrators of trust

nationalpost.com

Ari Altstedter Jan 16, 2024 rbbm.

‘Personal Animosity​

In the lawsuit, the Shechtman siblings say the conflict between their mother and the Sherman children now extends to them. They say they are no longer on speaking terms with their cousins, which is affecting the disbursement of the trust. In the years since the killings, they say they’ve received nothing from the trust, which they allege in their suit is because of the “personal animosity” of the trustees''.

''The suit also says the relationships between the trustees has become dysfunctional, and that the various trustees are otherwise compromised. Jonathon Sherman is no longer on speaking terms with the other two trustees and has disavowed their communications, it says. And Glasenberg and Krawczyk have encouraged and helped Matthew and Rebecca Shechtman’s brother, Noah Shechtman, to sue them and their mother over a separate trust, which they say constitutes a conflict of interest and breach of fiduciary duty.''

It’s hard to believe that Alex Glasenberg has ANY interest in helping Noah sue his siblings and his parents over their own family trust.

 

[Lexiintoronto]

It’s hard to believe that Alex Glasenberg has ANY interest in helping Noah sue his siblings and his parents over their own family trust.

I also doubt he did what the lawsuit is claiming.

Noah is an adult and back in 2017 he was married at that time. So some indication he was his own person, and capable of making his own decisions. He had issues with getting property from the Shechtman trust. So he MAY have turned to the Sherman estate trustees and asked for their advice since Honey set up the trust and they now represent her estate. But I doubt they enabled him to sue.

I imagine that Mary could be embarrassed that Noah sued her and this is all public. So she may be indirectly blaming others for what he is doing.

 

[MerlinFalcon]

Interesting that BK and JS no longer communicate. Weren't they friends before BK and AK married? I wonder what happened.

 

[Tobiano8th]

can someone "cliff notes" these latest stories? i believe all the articles relate to the same.development so should be similar

is there any documentation that any of this existed?

Why wouldn't a lawyer come forward and at least say there was a HS will at some time? some recent time?

My friend died with pretty large estate, fairly unconventional family life and no will... they scoured the landscape to find a will. contacted me "out of.the blue"... so they really tried.to find.a will

If none of any of this is documented, i don't think it has any standing whatsoever..i am sure.there are people.who tell others they will get money from will and then don't.. and don't.get me.wrong, alot of.times.it's laziness/inertia.that is.the culprit, not insincerity

Very unfortunate when both spouses die in short.order as i'd think often the surviving.spouse. makes a subsequent will that includes small bequests to relative and.maybe important friends

" small bequest" is the key.though. it might be nice and reasonable to inherit $50k from aunt/uncle worth $5mm.. not sure this scales very well though...

 

[Tobiano8th]

i also thought in,most cases when 1st.spouse dies, almost nothing happens of note. just alot of administrative duties

All the wealth.gets consolidated with surviving spouse. not sure i've ever heard of children getting significant inheritance when 1st spouse.dies

the hollywood media.gets it.so wrong when they say "OMG, Aaron Spelling only left Torrie $800k from a $500mm estate".... well, his wife (Tori's mother) inherited.

 

[JDG]

i also thought in,most cases when 1st.spouse dies, almost nothing happens of note. just alot of administrative duties

All the wealth.gets consolidated with surviving spouse. not sure i've ever heard of children getting significant inheritance when 1st spouse.dies

the hollywood media.gets it.so wrong when they say "OMG, Aaron Spelling only left Torrie $800k from a $500mm estate".... well, his wife (Tori's mother) inherited.

It depends on what type of wills they have, IIRC.

Many spouses have ‘back to back wills’ where survivor gets all.

You can opt to have wills whereby only marital assets go to survivor, then one would leave inheritance to others excluding spouse.

In the first case, unless there is a need for probate, there isn’t a lot of administrative duties.

*****************

The Sherman’s had a very complicated situation both money wise and family wise.

 

[ldlager]

RSBM
I think you’re right. I think the issue is with what Mary either falsely believes or wants others to believe, imo. I think she believes* the Shermco shares increased in value by $500 million between 2016-2017 and she’s entitled to $300M. Honey had less that $50M when she died. Where did Mary get the $300-500M numbers from?

* KD has said he believes Mary is behind her children’s current lawsuit.

If this was an estate freeze in 2016 then all of the increase in value of Shermco shares after that date accrues to the trust. Were the shares of Apotex that BS owned before the trust was established included in the 2016 trust property As part of the estate freeze? If so, one would think that a significant portion of the sale proceeds of Apotex belongs to the 2016 trust, and not necessarily to BS‘ 4 children. I am wondering if the Sherman kids may have received hundreds of millions more that they might be legally entitled to?

 

[Sphinx]

Interesting that BK and JS no longer communicate. Weren't they friends before BK and AK married? I wonder what happened.

If they were up to something together, then the not communicating could be a smoke screen. They both would benefit greatly from the deaths of Honey and Barry. Also, I do not think BK came from great wealth, so inheriting could mean a great deal to him. Just some thoughts. We do not know why AK suspected JS of being involved, or why she divorced BK, and moved to Israel not too long after the murders. Again, who benefits the most? Follow the money. IMO

 

[treefeller]

If they were up to something together, then the not communicating could be a smoke screen. They both would benefit greatly from the deaths of Honey and Barry. Also, I do not think BK came from great wealth, so inheriting could mean a great deal to him. Just some thoughts. We do not know why AK suspected JS of being involved, or why she divorced BK, and moved to Israel not too long after the murders. Again, who benefits the most? Follow the money. IMO

Did AK move to Israel as well as Kaelan? I thought she still lived GTA area?

 

[Sphinx]

Did AK move to Israel as well as Kaelan? I thought she still lived GTA area?

As far as I know Lauren still lives in B.C. Canada with her family. AK is the only one I know of in the family that moved to Israel. She also hired heavy security go guard her and her children in Israel. She bought a part interest in a luxury hotel, but likely owns other property there as well. I am not sure where Kaelan lives. She is also divorced after a brief marriage that took place after the murders. IMO

 

[JDG]

As far as I know Lauren still lives in B.C. Canada with her family. AK is the only one I know of in the family that moved to Israel. She also hired heavy security go guard her and her children in Israel. She bought a part interest in a luxury hotel, but likely owns other property there as well. I am not sure where Kaelan lives. She is also divorced after a brief marriage that took place after the murders. IMO

I thought it was LS who was in B.C.?

JS is north of Toronto somewhere but not sure about the younger daughters.

So, AK is in Israel with her children.

I know KS had a short lived marriage but not sure where she is/was living.

 

[Cedars]

If this was an estate freeze in 2016 then all of the increase in value of Shermco shares after that date accrues to the trust. Were the shares of Apotex that BS owned before the trust was established included in the 2016 trust property As part of the estate freeze? If so, one would think that a significant portion of the sale proceeds of Apotex belongs to the 2016 trust, and not necessarily to BS‘ 4 children. I am wondering if the Sherman kids may have received hundreds of millions more that they might be legally entitled to?

Possibly, or at least - IMO - that's what the lawyers for the S family are hoping: that they've found a little doggie bag left over from the main meal, that maybe was neglected at the back of the fridge and they can get a piece of it.

However, IMO it wouldn't have been seen as a desireable asset ie motive for murder in 2017, since no one seems to have known about it, or its terms (given that the lawyers only contacted it in 2023).

JMO

 

[Lexiintoronto]

As far as I know Lauren still lives in B.C. Canada with her family. AK is the only one I know of in the family that moved to Israel. She also hired heavy security go guard her and her children in Israel. She bought a part interest in a luxury hotel, but likely owns other property there as well. I am not sure where Kaelan lives. She is also divorced after a brief marriage that took place after the murders. IMO

I think you may have mixed up the names but you have the details right. Kaelen moved to Israel after a brief marriage and investing a hotel. Alex last we heard is still in the GTA.

 

[Lexiintoronto]

If this was an estate freeze in 2016 then all of the increase in value of Shermco shares after that date accrues to the trust. Were the shares of Apotex that BS owned before the trust was established included in the 2016 trust property As part of the estate freeze? If so, one would think that a significant portion of the sale proceeds of Apotex belongs to the 2016 trust, and not necessarily to BS‘ 4 children. I am wondering if the Sherman kids may have received hundreds of millions more that they might be legally entitled to?

KD said the CRA are likely going to be taking an interest in this.

I don’t know what it all means exactly, so I appreciate everyone who is explaining it.

I have a lot of trivia in my head, ( ) and one thing I recall is that Honey owned Shermco shares, at least at one point.

Barry had a 2000 trust. He was the sole trustee. If you look at these US government documents it may shed some light on the 2016 trust. (Honey is named as well.)

https://www.sec.gov/Archives/edgar/data/936837/000095013603002592/0000950136-03-002592.txt

https://www.sec.gov/Archives/edgar/data/936837/000095013603003208/file001.txt

“ This Form 4 is being filed jointly by the following parties: (i)
Bernard C. Sherman ("Dr. Sherman"), who has sole voting and dispositive control,
as the sole trustee, of the Bernard and Honey Sherman Trust ("Sherman Trust"),
and who owns 99% of the outstanding capital stock of Sherman Holdings Inc.
("Sherman Holdings"); (ii) Sherman Trust which owns 99% of the common stock of
Shermco, Inc. ("Shermco"); (iii) Sherman Holdings which owns 99% of the
preferred stock of Shermco; (iv) Shermco which owns all of the outstanding
capital stock of Sherfam Inc.”

https://www.sec.gov/Archives/edgar/data/10081/000100547703000386/ex99-1b.txt

ETA: If Honey owned Shermco shares at some point, maybe that’s where Mary got that $300-500M number? She asked the heirs for everything Honey owned. If she did the math on the plane on that December 15th she may have thought Honey’s shares were worth $500M.

 

[dotr]

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Jan '24 rbbm Ari Altstedter
''According to the lawsuit, which was filed last month and reported over the weekend in the Toronto Star, Barry Sherman established the trust in 2016 to benefit his four children, along with those of Mary Shechtman and of Sandra Florence, his own sister. The trust’s main assets were shares in a holding company called Shermco, which was meant to “capture the growth in the value of Sherfam Inc. from 2016 forward,” according to the lawsuit. Sherfam is the family’s main holding company, which once encompassed Apotex Inc., the pharmaceutical manufacturer that constituted the bulk of Barry Sherman’s net worth. ''

''Bloomberg Businessweek reported last year that Jonathon Sherman has himself accused Glasenberg of withholding information from him, and that has contributed to a breakdown in his relationship with his sister Alexandra — Krawczyk’s ex-wife — who at one point had come to suspect Jonathon of being involved in their parents’ deaths. It’s unclear what drove her to that suspicion, and the police, according to a person with knowledge of their investigation, didn’t view it as being based on any evidence.''

 

[Lexiintoronto]

BNN Bloomberg - Canada Business News, TSX Today, Oil and Energy Prices

Get the latest Canadian business news, including TSX updates, changes to oil and energy prices, and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

Jan '24 rbbm Ari Altstedter
''According to the lawsuit, which was filed last month and reported over the weekend in the Toronto Star, Barry Sherman established the trust in 2016 to benefit his four children, along with those of Mary Shechtman and of Sandra Florence, his own sister. The trust’s main assets were shares in a holding company called Shermco, which was meant to “capture the growth in the value of Sherfam Inc. from 2016 forward,” according to the lawsuit. Sherfam is the family’s main holding company, which once encompassed Apotex Inc., the pharmaceutical manufacturer that constituted the bulk of Barry Sherman’s net worth. ''

''Bloomberg Businessweek reported last year that Jonathon Sherman has himself accused Glasenberg of withholding information from him, and that has contributed to a breakdown in his relationship with his sister Alexandra — Krawczyk’s ex-wife — who at one point had come to suspect Jonathon of being involved in their parents’ deaths. It’s unclear what drove her to that suspicion, and the police, according to a person with knowledge of their investigation, didn’t view it as being based on any evidence.''

Jonathon Sherman has himself accused Glasenberg of withholding information from him, and that has contributed to a breakdown in his relationship with his sister Alexandra — Krawczyk’s ex-wife

What?!!

Alexandra found out something from Glasenberg? She stopped talking to JS in December, 2018 after something happened at Jonathon’s cottage.