CANADA Canada - Billionaire Couple Barry & Honey Sherman Murdered at Home, Toronto, 15 Dec 2017 #24

[fadedglitter]

I’ll try to phrase this in a way that I hope will not attract responses that cross the line.

Many people believed the Shermans had harmed them. Barry had many business enemies. Honey was perceived as treating people unkindly. There was a wry joke at the time of the murders about the large number of people who had a motive.

Many people benefitted. The CEO of Apotex was pushed out. We have no idea what internal wrangling came about as a result. Embarrassing details were almost certainly hidden while others came to light. People got promotions and others lost their influence.

Lots of people benefitted financially. The heirs weren’t interested in maximizing the value of their father’s businesses. They were selling Apotex for parts. Anyone who had an eye on acquiring factories or things around the world that were owned by Sherfam was able to buy those things at a significant discount.

Barry was in the litigation business. Cases just STOPPED because the estate didn’t want to bother with them. At that scale it can be estimated that hundreds of people didn’t need to testify and millions of pages of evidence didn’t need to be produced in discovery. Many embarrassing things weren’t revealed.

 

[ldlager]

I’ll try to phrase this in a way that I hope will not attract responses that cross the line.

Many people believed the Shermans had harmed them. Barry had many business enemies. Honey was perceived as treating people unkindly. There was a wry joke at the time of the murders about the large number of people who had a motive.

Many people benefitted. The CEO of Apotex was pushed out. We have no idea what internal wrangling came about as a result. Embarrassing details were almost certainly hidden while others came to light. People got promotions and others lost their influence.

Lots of people benefitted financially. The heirs weren’t interested in maximizing the value of their father’s businesses. They were selling Apotex for parts. Anyone who had an eye on acquiring factories or things around the world that were owned by Sherfam was able to buy those things at a significant discount.

Barry was in the litigation business. Cases just STOPPED because the estate didn’t want to bother with them. At that scale it can be estimated that hundreds of people didn’t need to testify and millions of pages of evidence didn’t need to be produced in discovery. Many embarrassing things weren’t revealed.

I would add that it is very possible that some people thought they would benefit financially if the Sherman’s were dead, and it turned out that they in fact did not benefit.

 

[fadedglitter]

I would add that it is very possible that some people thought they would benefit financially if the Sherman’s were dead, and it turned out that they in fact did not benefit.

Indeed. Some people may not have realized Barry had updated his will, and have imagined themselves to be executors, in charge of the entire fortune at his death.

 

[WINDSOR]

Lots of people benefitted financially. The heirs weren’t interested in maximizing the value of their father’s businesses. They were selling Apotex for parts. Anyone who had an eye on acquiring factories or things around the world that were owned by Sherfam was able to buy those things at a significant discount.

Apotex was sold as a complete entity, not as parts. The factories and all the real estate, were also sold as a unit to a holding company. AFAIK there was no sale of assets at a significant discount.

 

[fadedglitter]

Lots of people benefitted financially. The heirs weren’t interested in maximizing the value of their father’s businesses. They were selling Apotex for parts. Anyone who had an eye on acquiring factories or things around the world that were owned by Sherfam was able to buy those things at a significant discount.

Apotex was sold as a complete entity, not as parts. The factories and all the real estate, were also sold as a unit to a holding company. AFAIK there was no sale of assets at a significant discount.

This is just flat out not true. Long before SK Capital purchased the last of Apotex, Aurobindo Pharma acquired parts of the company in five European countries. Apotex merged its Australian and New Zealand operations with Arrow Pharmaceuticals. The Star has reported that the new Florida factory, key to the planned expansion into US markets, was sold at a loss (I could have sworn this was discussed here). Barry had a massive global operation.

The heirs did not want to run Apotex or Sherfam. They wanted to get it over with. They did not need the money and they had never wanted to deal with their dad’s companies. Barry had many investments and it was all too much to deal with.

 

[ldlager]

Indeed. Some people may not have realized Barry had updated his will, and have imagined themselves to be executors, in charge of the entire fortune at his death.

Or beneficiaries

 

[WINDSOR]

This is just flat out not true. Long before SK Capital purchased the last of Apotex, Aurobindo Pharma acquired parts of the company in five European countries. Apotex merged its Australian and New Zealand operations with Arrow Pharmaceuticals. The Star has reported that the new Florida factory, key to the planned expansion into US markets, was sold at a loss (I could have sworn this was discussed here). Barry had a massive global operation.

The heirs did not want to run Apotex or Sherfam. They wanted to get it over with. They did not need the money and they had never wanted to deal with their dad’s companies. Barry had many investments and it was all too much to deal with.

It all has to do with your perspective.

If we assume that Apotex was at a $4 Billion company, the purchase by Aurobindo for $120 million of Apotex's European operations was not significant in my view. Apotex, made a profit on the deal and received the money. Large companies are always buying and selling parts of their operations.

The merger with Arrow resulted in Apotex's continued investment in the new entity, there was no sale or loss of Apotex assets.

In February 2019 Apotex sold a warehouse for $38 million in South Florida, which was $12 million less than they had invested. This loss is more a result of the Florida commercial real estate market, that some Apotex crisis.

So we have a combined loss of $12 million on all these transactions. (about a third of what Barry had lent to Jonathan and asked to be paid back, shortly before the deaths). Seems like Apotex was rationalizing their operations worldwide, in order to maximize value prior to the sale to SK Capital. To me this does not look anything like a fire sale, but smart and prudent leadership

The roof was not falling in on Apotex, and it is believed that SK Capital who purchased Apotex, paid much more than $4 Billion.

Finally the heirs did not want to run Apotex, they just wanted the cash, which they got.
You say 'they did not need the money', however when has need anything to do with want?

Finally you state 'Barry had many investments and it was all too much to deal with'. Again from whose perspective? The Sherfam organization had effective leadership group, and appeared to be running things successfully in a business-like manner.