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We represent a number, over the years, of large closely held family businesses where, at one point, they were successful businesses where the relatives got along. In this case, we represented a business that had been founded by brothers. One of the brothers died, and the other—our client was the sister-in-law. The brother-in-law, in this very complicated real estate business, decided he would seize control of the family business and overcharge and cheat his sister-in-law.
We came up with a strategy to get the sister-in-law made whole by tens of millions of dollars. After years of trial, we were on trial in that case for two years. We worked with forensic accountants and tax accountants and were able to show that there was a substantial amount of theft, in effect, by the sister-in-law with ghost payrolls and other techniques that the brother-in-law was using to siphon off money from his sister-in-law.
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Chicago, IL commercial litigation attorney Peter S. Lubin talks about a memorable case involving a dispute in a family-held business. He represents numerous large, closely held family businesses, particularly those that were once successful where family members got along. In one notable case, he represented a sister-in-law whose brother-in-law had taken over a complicated real estate business after her husband—one of the founding brothers—passed away. The brother-in-law attempted to seize control of the family business while overcharging and defrauding her.
He devised a strategy to make the sister-in-law whole, recovering tens of millions of dollars. The case went to trial and lasted for two years. Working closely with forensic accountants and tax specialists, he demonstrated that the brother-in-law had effectively stolen from his sister-in-law using ghost payrolls and other schemes to siphon money from her.
