Barry Sherman’s cousins strike out in court battle

Cousins of the late Barry Sherman have lost their bid for a portion of the billionaire’s fortune.

A three-judge panel of the Ontario Court of Appeal on Wednesday upheld a lower court’s decision that there was no need for a trial in the case. The justices also agreed with the lower court that the lengthy legal battle was an “abuse of process” by the Sherman cousins.

The cousins were hit in the pocketbook as they were ordered to pay $60,000 to cover the legal costs resulting from defending the appeal. That amount is tacked on to the $300,000 in legal costs that the cousins owe  to Sherman since September 2017 when Superior Court Justice Kenneth Hood ruled in the billionaire’s favour.

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Sherman, who was murdered last December along with his wife Honey, had directed millions of dollars to the cousins over the years, but cut it off once they sued him.

The cousins — Paul, Jeff, Kerry and Dana (Dana is deceased and represented by his widow) — were the sons of Lou Winter, founder of Empire Laboratories, where his nephew, Barry Sherman, worked at while in university in Toronto in the early 1960s.

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“It would be unfair and an abuse of process” to enable the cousins to take the dispute to trial, stated the appeal court panel, consisting of Justices Robert Sharpe, Russell Juriansz and Lois Roberts.

Two years after Lou Winter died in 1965, Sherman and his partner bought Empire in 1967 for $450,000. Sherman and his partner ran Empire for a few years, then sold it. Sherman founded Apotex in 1974 and it blossomed into a multi-billion dollar generic company.

Toronto Police are still investigating the “targeted” killing of the Shermans. The couple was last seen alive on Dec. 13. Their bodies were discovered in the swimming pool room of their home.

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Source:: Toronto Sun – Movies