Canada - Barry, 75, & Honey Sherman, 70, found dead, Toronto, 15 Dec 2017 #10

[MistyWaters]

Your post that I replied to referred to “ownership” but I think then you’re referring to ongoing management (or administration), which is a component of succession planning. Apotex claimed a succession plan had already been put in place by Barry Sherman. A succession plan simply refers to a plan for the companies successful operation after the principle retires (or dies) and you’re right, that’s not a component of a will because it’s an intention, but cannot be mandated after death.

Once company shares are passed on to beneficiaries, the new “owners” of private companies, especially large corporations such as Apotex, and those who actively manage it are not necessarily one and the same. There’s no requirement for shareholders to work for the companies they own. They have the option of appointing (or keeping on) the Board of Directors who are responsible for overseeing high level management of the business and protecting the shareholders best interests.

Although it’s been stated Barry Sherman was Chairman of the Board of Directors, because Apotex was a private company, other Board members do not require to be publicly named. But it’s possible succession planning involved appointing other qualified Board Members already, prior to his death.

Quoting my own post here...

Just speculating but a possibile example of a succession plan for Apotex that was already in place upon Barry’s death was the splitting of duties of the President and CEO into two distinct roles, which later did occur. The benefit of that is to add additional oversight in managing the company’s operations, upon the absence of the founder.

If that were so, a clause in Desai’s contract would’ve prompted his resignation. Kay was then appointed by the Board as CEO and Watson became President.

“Apotex Inc. president and CEO Jeremy Desai resigned effective immediately Friday from the generic drug giant founded by billionaire Barry Sherman, who was found slain in his home on Dec. 15...”
Apotex CEO Jeremy Desai resigns amid allegations of leaked trade secrets | CBC News

 

[casesensitive]

MANDEL: Barry Sherman’s cousins fighting for share of Apotex fortune

The reasons for his long-standing hatred for his late cousin are found in the lawsuit he spearheaded: Winter and his three brothers were orphaned in 1965 when all were under the age of seven and Sherman was 23 and studying at MIT. As executor of the estate, Royal Trust ran their father’s Empire drug manufacturing company for two years until agreeing to sell it to the highest bidder: Sherman and his partners. Part of the terms in the offer was an option that the boys, if qualified, could have jobs at Empire at 21 and 5% of the equity at 23.

As deugirtni has clearly spelled out in reply#136, BS's term in the offer was that the boys had the OPTION to PURCHASE 5% of the equity. This is spelled out in their lawsuit.

"They claim Sherman didn’t honour an option agreement that would have allowed them employment in the family business and the right to purchase, collectively, 20 per cent of the company shares."

 

[MistyWaters]

MANDEL: Barry Sherman’s cousins fighting for share of Apotex fortune

The reasons for his long-standing hatred for his late cousin are found in the lawsuit he spearheaded: Winter and his three brothers were orphaned in 1965 when all were under the age of seven and Sherman was 23 and studying at MIT. As executor of the estate, Royal Trust ran their father’s Empire drug manufacturing company for two years until agreeing to sell it to the highest bidder: Sherman and his partners. Part of the terms in the offer was an option that the boys, if qualified, could have jobs at Empire at 21 and 5% of the equity at 23.

Aside from the original allegations, considering time marches onward, we now know after more than a decade of litigation the civil suit filed by the cousins failed to proceed after being heard in four different Court proceedings. First against Royal Trust, then the appeal and more recently against Barry Sherman directly, and once again the appeal.

If you’re interested in reading the various reasons it was dismissed here’s the link to both appeals.

Winter v. Royal Trust Company, 2014 ONCA 473 (CanLII)
CanLII - 2014 ONCA 473 (CanLII)

Winter v. Sherman Estate, 2018 ONCA 703 (CanLII)
CanLII - 2018 ONCA 703 (CanLII)

Do you think there’s any connection between the failed civil lawsuit and the homicides of the Shermans?

 

[deugirtni]

MANDEL: Barry Sherman’s cousins fighting for share of Apotex fortune

The reasons for his long-standing hatred for his late cousin are found in the lawsuit he spearheaded: Winter and his three brothers were orphaned in 1965 when all were under the age of seven and Sherman was 23 and studying at MIT. As executor of the estate, Royal Trust ran their father’s Empire drug manufacturing company for two years until agreeing to sell it to the highest bidder: Sherman and his partners. Part of the terms in the offer was an option that the boys, if qualified, could have jobs at Empire at 21 and 5% of the equity at 23.

Yes, that is exactly what I just said. That option was only an agreement made at time of sale of Empire to Barry, between RT and Barry.. his dad had nothing to do with it. He was already dead. And the other buyer would have been subject to no such option. So what would have happened if Barry had NOT made the offer and they had instead accepted the 100,000 LOWER offer? Who would they sue and hate in that case?

 

[deugirtni]

^^^Andreww, the way I read that is that it was BS who *added* those terms, not Mr. Winter. Possibly, it was RT who negotiated the terms when selling the firm.

It was RT who was looking after the company and who negotiated the terms, as can be seen when they say they tried to get Barry to agree to even MORE than what he did. The company would not have been sellable with those terms to ANY other buyer, so it seems unfair to me that they made those terms for one buyer offering the most money, but yet not the other buyer... and they did already have another buyer, for substantially less money.

I want to know.... what then?

It was a choice RT made in selling that business. IF everyone involved wanted to ensure jobs and shares for the offspring, the only thing to do would have been to have kept it going for them. But they instead took the money the business was worth at the time, and sold it. They really couldn't have it both ways - get the money it was worth at the time (actually almost 1/3 more than that) AND keep it for the kids to work and profit from years later and forever after. Frankly, the notion of all of that just kills me.

 

[deugirtni]

To put this into some kind of perspective, how is this situation so different from conceivably being construed to be similar to buying a cottage from someone and the seller saying,

'You want to buy my cottage? Great, but just a couple of things, this sale is subject to your allowing my little kids, all under 7, to spend two weeks in the cottage every summer, starting in 14 or so years, once they each turn 21, and then after doing that for 2 years, also giving them the opportunity to buy 5% each (20% collectively) of the ownership of the cottage at the value it's at at that time, so they can benefit from any increase in value the cottage may enjoy after that..

and wait - of course, the expectation will be that you may never sell the cottage once you buy it, even though it is worded that the stipulations are only in effect for as long as you own the cottage, no matter what your own goals might become and no matter what you might be offered for it prior that point, because that would mean my kids wouldn't get to benefit again from this sale and well, I so much want for them to have that opportunity even though I need to sell it right now - so how much you wanna pay for that, how about a hundred thousand more than the other offer I already have on the table, which ISN'T subject to those same conditions? And seriously, you seem to want it really really bad, and I'm thinking you just might be a really good cottage-owner in keeping up the equity and maybe even making improvements at your own cost, so, can we put in even more stipulations for you to adhere to which would benefit my kids later?'

I mean obviously we're talking business and not cottage, but the premise seems the same. A different deal could have been attempted to have been negotiated where B or someone else would only have been brought in as a paid employee to run the company, leaving those options open forever to the offspring... akin to renting out that cottage instead of selling it. Having their cake and eating it too, comes to mind.

 

[ldlager]

Your post that I replied to referred to “ownership” but I think then you’re referring to ongoing management (or administration), which is a component of succession planning. Apotex claimed a succession plan had already been put in place by Barry Sherman. A succession plan simply refers to a plan for the companies successful operation after the principle retires (or dies) and you’re right, that’s not a component of a will because it’s an intention, but cannot be mandated after death.

Once company shares are passed on to beneficiaries, the new “owners” of private companies, especially large corporations such as Apotex, and those who actively manage it are not necessarily one and the same. There’s no requirement for shareholders to work for the companies they own. They have the option of appointing (or keeping on) the Board of Directors who are responsible for overseeing high level management of the business and protecting the shareholders best interests.

Although it’s been stated Barry Sherman was Chairman of the Board of Directors, because Apotex was a private company, other Board members do not require to be publicly named. But it’s possible succession planning involved appointing other qualified Board Members already, prior to his death.

Of course what you said is correct. But what were Barry's wishes for the ongoing ownership/operation of the company? Did the children or the beneficiaries know? They may have inherited ownership of the shares, but that does not equip them to manage what goes along with that ownership. Sure they have advisors and managers, etc. My only point was that they have not been involved in management or ownership of the Company previously. It is generally speculated that the shareholders are planning to sell the Company, and regrettably that may not have been Barry's wish. But they are now the owners, so they can deal with their interests as they please.

 

[dotr]

Just poking around trying to understand what may have happened, why it all seems so odd..
If HS was the target and BS collateral damage, as might be assumed because HS was found in a less tidy state than BS, imo. did the killer/s have a "Victorian" mindset? rbbm. imo, speculation.
Canada's History - Canada's History
"Murder in Hastings County
When a Catholic couple was charged with killing a Protestant neighbour in Canada West, it became a lightning rod for partisan passions.
Desmond Morton,— May 7, 2015"
"The Aylward case is forgotten now.
The sight of a young married couple hanged together for a murder must have stuck in the memory of the thousands who jammed into Belleville, Canada West, on that bitterly cold Monday morning, December 8, 1862."
“Mary's frail body contorted like a grotesque puppet on tangled strings for a minute and a half until life deserted her. Richard continued to struggle for a further minute ... before he too found final peace.” The bodies were left hanging for a further twenty-five minutes “for the satisfaction and pleasure of those who came to witness their death.”
"A later generation may be appalled at Mary Aylward’s fate and still wonder why her husband, who had killed no one, should be hanged beside her. A seemingly hapless cipher, Richard paid in full for the Victorian assumption that a husband was responsible for his wife’s behaviour."
“The past is a foreign country,” claimed British novelist L.P. Hartley. “They do things differently there.”

 

[MistyWaters]

Of course what you said is correct. But what were Barry's wishes for the ongoing ownership/operation of the company? Did the children or the beneficiaries know? They may have inherited ownership of the shares, but that does not equip them to manage what goes along with that ownership. Sure they have advisors and managers, etc. My only point was that they have not been involved in management or ownership of the Company previously. It is generally speculated that the shareholders are planning to sell the Company, and regrettably that may not have been Barry's wish. But they are now the owners, so they can deal with their interests as they please.

Yes, the beneficiaries of the shares (whoever they are, as we don’t know for sure as the Estate has been sealed) can collectively do whatever they choose with their share holdings.

By selling, it’s possible at some future point Apotex lists with a stock exchange and initiates a public share offering. Some or all of those shares would then be sold by the beneficiaries. Or I suppose Apotex could be sold to another generic drug manufacturer and operated as a separate division.

We don’t know what Barry’s intention was but it didn’t appear any family member was being mentored over the years to succeed him. Most often it’s proven impossible for family owned businesses to succeed throughout the generations because, just a hypothetical example, the founder passes on the company shares to 3 children. Then those children eventually pass on and each have 3 children so then there’s 9 different people at the helm, as opposed to only one. Nine shareholders with equal say usually leads not only to disagreements and falling outs but the eventual failure of the company as well.

Eatons, a once very well known downtown department and mail order store is a good example.
Eaton's - Wikipedia

 

[MistyWaters]

Just poking around trying to understand what may have happened, why it all seems so odd..
If HS was the target and BS collateral damage, as might be assumed because HS was found in a less tidy state than BS, imo. did the killer/s have a "Victorian" mindset? rbbm. imo, speculation.
Canada's History - Canada's History
"Murder in Hastings County
When a Catholic couple was charged with killing a Protestant neighbour in Canada West, it became a lightning rod for partisan passions.
Desmond Morton,— May 7, 2015"
"The Aylward case is forgotten now.
The sight of a young married couple hanged together for a murder must have stuck in the memory of the thousands who jammed into Belleville, Canada West, on that bitterly cold Monday morning, December 8, 1862."
“Mary's frail body contorted like a grotesque puppet on tangled strings for a minute and a half until life deserted her. Richard continued to struggle for a further minute ... before he too found final peace.” The bodies were left hanging for a further twenty-five minutes “for the satisfaction and pleasure of those who came to witness their death.”
"A later generation may be appalled at Mary Aylward’s fate and still wonder why her husband, who had killed no one, should be hanged beside her. A seemingly hapless cipher, Richard paid in full for the Victorian assumption that a husband was responsible for his wife’s behaviour."
“The past is a foreign country,” claimed British novelist L.P. Hartley. “They do things differently there.”

The victims appearing as if their bodies had been strung by belts around the necks attached to the pool railing reminds me of hanging, even though the railing was only 3 1/2 to 4 ft high so they were reportedly found in a semi-seated position.

Hanging is commonly associated with the act of execution, the ultimate in punishment by the taking of life.

Some trivia....
“On Dec. 11, 1962, Arthur Lucas and Ronald Turpin became the last people to be executed in Canada......Before the hanging, Turpin and Lucas were told they'd likely be the last people hanged in Canada, to which Turpin responded, "Some consolation."
Capital punishment in Canada | CBC News

“Hanging has been practiced legally in the United States of America from the nation's birth, up to 1972 when the United States Supreme Court found capital punishment to be in violation of the eighth amendment to the United States Constitution.[1] Four years later, the Supreme Court overturned its previous ruling, and in 1976, capital punishment was again legalized in the United States.[2] Hanging has returned to the states of Washington and New Hampshire.[3][4]”
Hanging in the United States - Wikipedia

 

[Kerry Winter]

Usually the media asks a lot of questions but only prints a bit of it. I wonder if Kerry had more to say

Joe and l text/ chat regularly. He knows the truth.

 

[Kerry Winter]

Kerry has a lot to say. He just won't say it here anymore.

Thx Andrew. Always appreciate our text exchanges.
<modsnip - personalized>

 

[Lexiintoronto]

Joe and l text/ chat regularly. He knows the truth.

Joe Warmington? If he has *proof* of a m/s he’d be printing it. Especially since the Star is getting sourced material from the Sherman PIs.

The Shermans are dead. You’ve clearly expressed that is what you wanted. Why does it matter to you what the manner of death was?

And if you claim to have proof, why are you sitting on it? Why not share it with someone in power? Leverage it in your claim against the estate?

 

[MistyWaters]

Joe and l text/ chat regularly. He knows the truth.

Yet in Warmington’s most recent news report where he included a quote by you, this was all you had to say? Why’d you overlook an opportunity to spread the truth?

WARMINGTON: Cops in Sherman case get promoted, but will it stall the file now?
“But Sherman’s estranged cousin Kerry Winter, who has been interviewed by Det. Price in this case, weighed in by saying “it doesn’t make sense” and that “I could understand Gomes and Price being promoted if they had solved the Sherman case.”....”

 

[andreww]

Joe Warmington? If he has *proof* of a m/s he’d be printing it. Especially since the Star is getting sourced material from the Sherman PIs.

The Shermans are dead. You’ve clearly expressed that is what you wanted. Why does it matter to you what the manner of death was?

And if you claim to have proof, why are you sitting on it? Why not share it with someone in power? Leverage it in your claim against the estate?

What proof do you think he has? Original police statements indicating M/S? Production orders only listing Honey? Off the record opinions of officers that worked the case? Promotions to people that didn't merit them? Complete radio silence from TPS? A career's worth of experience and a hinkey meter thats telling him something is off? That's not enough to convince you, do you honestly think that the general public would buy in to this? Nope, people believe whatever TPS feeds them and unless someone comes up with a video of Barry actually killing Honey that'll never change.

Remember, this city went for about a year with allegations against the mayor doing drugs and nobody seemed to care. Then the video of him huffing on a crack pipe showed up and people were shocked. People are naive sheep and they simply are incapable of putting together or even considering circumstantial evidence. You have to hit them in the face with undeniable proof or they simply think you are a crazy conspiracy theorist. Too much for Joe to risk at this point by publishing this story, especially given that he wouldn't be able to use anything that was told to him off the record.

 

[andreww]

Yet in Warmington’s most recent news report where he included a quote by you, this was all you had to say? Why’d you overlook an opportunity to spread the truth?

WARMINGTON: Cops in Sherman case get promoted, but will it stall the file now?
“But Sherman’s estranged cousin Kerry Winter, who has been interviewed by Det. Price in this case, weighed in by saying “it doesn’t make sense” and that “I could understand Gomes and Price being promoted if they had solved the Sherman case.”....”

Do you actually think that was the only think Kerry said? This story was not about the Shermans, it was about the promotions of the undeserving people involved in the case. Don't you think that Joe would use a quote that actually related to the subject of the story?????

 

[andreww]

Thx Andrew. Always appreciate our text exchanges.
<modsnip - personalized>

Hahaha!

Always good talking to you too Kerry.

 

[dotr]

December 12, 2018
Barry and Honey Sherman: A legacy of giving
"Of Toronto’s 65 homicides in 2017, the final two continue to shock the community.

The bodies of Barry Sherman, 75, the founder of the generic drug company Apotex, and his wife Honey, 70, were discovered in their home on Dec. 15, 2017, just hours before the onset of Shabbat. The billionaire couple and philanthropic powerhouses had been the victims of a “targeted” attack, it was established, after some brief but wild speculation about a suicide pact.

In Toronto’s Jewish community – and in the rest of the country – the disbelief has barely waned and questions have persisted: How could this happen? And why?

A year later, there has been no breakthrough in the case, at least nothing that the public is aware of."

"Jonathon Sherman and his three sisters, Lauren, Alexandra and Kaelen, announced the creation of the Honey and Barry Foundation of Giving. The Shermans’ children declined The CJN’s requests for interviews and a search shows no evidence that the foundation was ever set up.

Still, there’s no shortage of projects that will carry the Sherman name and philosophy of giving well into the future."

"The Sherman family wanted to commemorate the date of the deaths “in a fitting and meaningful way,” said Apotex spokesperson Jordan Berman, and asked that staff be given one extra day off in December to spend as they see fit.

Flags at Apotex facilities around the globe will be at half-mast, Berman added."

 

[Lexiintoronto]

What proof do you think he has? Original police statements indicating M/S? Production orders only listing Honey? Off the record opinions of officers that worked the case? Promotions to people that didn't merit them? Complete radio silence from TPS? A career's worth of experience and a hinkey meter thats telling him something is off? That's not enough to convince you, do you honestly think that the general public would buy in to this? Nope, people believe whatever TPS feeds them and unless someone comes up with a video of Barry actually killing Honey that'll never change.

Remember, this city went for about a year with allegations against the mayor doing drugs and nobody seemed to care. Then the video of him huffing on a crack pipe showed up and people were shocked. People are naive sheep and they simply are incapable of putting together or even considering circumstantial evidence. You have to hit them in the face with undeniable proof or they simply think you are a crazy conspiracy theorist. Too much for Joe to risk at this point by publishing this story, especially given that he wouldn't be able to use anything that was told to him off the record.

So: no proof.

You’re calling us naive for believing the TPS, but at the same time are asking us to believe unnamed sources employed by the TPS. There are many avenues the ‘sources’ can take if there is a ‘coverup’.


What you said about the Ford crack smoking video is not accurate. There were rumours of a video. The Star broke that story. They saw the video, then reported on it. I’d take this thread off topic by going into it- just google it.

ETA: I’m just going to hold out for facts on this case from now on.

 

[MistyWaters]

Do you actually think that was the only think Kerry said? This story was not about the Shermans, it was about the promotions of the undeserving people involved in the case. Don't you think that Joe would use a quote that actually related to the subject of the story?????

On the topic of facts, Kerry has stated publicly he had nothing to do with the Sherman deaths. Obviously then, he’s not the one who can be relied upon to speak about it. So what does Joe care, other than adding KWs comment gives him an opportunity to once again remind the reading audience of the existence of the quote “estranged cousin”.

KWs denials of involvement -
“....On The Rush, he once again stated he was not involved in their deaths, but admitted "I don't feel sorry in the slightest that he died the way he died."

When asked if he understood how his words appeared to anyone else listening in on his conversation, he said those individuals "should know clearly that I had nothing to do with their demise."

He said something similar on The Fifth Estate, telling reporters that he probably had reasons to kill his cousin but insisted he had nothing to do with the murders.....”
UPDATE: Murder-for-hire allegations in Sherman case fail lie detector test