Stronach family feud deepens as brother joins the fray

TORONTO — The son of Magna founder Frank Stronach has joined his parents’ $520-million lawsuit with his own court filing, accusing sister Belinda of “a range of serious misconduct” and mismanagement of the family business since 2013, when the former Liberal cabinet minister took over after her father stepped down as head of auto parts giant Magna International.

Andrew Stronach, who owns a 23 per cent stake in The Stronach Group (TSG), accuses his sister of hiding information about the family’s business, conspiring to seize control of operations, and alleges her extravagant lifestyle comes at the expense of the family trust, which faces “significant financial losses.”

The suit names Stronach, her children Nicole Walker (Nikki) and Frank Walker (Frankie), and CEO Alon Ossip, referred to in court documents as the “Belinda Trustees” of the Andrew Stronach 445 Family Trust.

“The filing on behalf of my brother is an extension of my father’s legal proceedings against me and my children, and the allegations remain just as untrue,” Belinda Stronach said in a statement.

“We will be responding formally in due course. It saddens me greatly that we have reached this juncture in our family,” she added.

Paul Deegan, a spokesperson for Ossip, told Bloomberg “the claims are wholly without merit. Mr. Stronach and his lawyers have been provided with detailed financials of the trusts and subsidiary corporations.”