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December 14, 2009

Francoise Bettencourt Meyers, daughter of L’Oreal heiress Liliane Bettencourt, won the right prosecute the man she claims exploited her mother for just under €1 billion.

Francoise Bettencourt Meyers, daughter of L'Oreal heiress Liliane Bettencourt, won the right prosecute the man she claims exploited her mother for just under €1 billion.
 
In a criminal court ruling heard in Paris on Friday, Bettencourt Meyers won the right to a trial against Francois-Marie Banier, a close friend of the her mother, to determine if Banier took advantage of 87-year-old Bettencourt's "mental frailty".
 

September 4, 2009

A bitter family feud that threatens to split one of Europe’s wealthiest family dynasties, the owners of L’Oreal, will go to court after a ruling in France yesterday

A bitter family feud that threatens to split one of Europe's wealthiest family dynasties, the owners of L'Oreal, will go to court after a ruling in France yesterday.
 
The case will call into question the mental health of Liliane Bettencourt (pictured), the 86-year-old daughter of the founder and head of the family. It has been brought to court by Bettencourt's daughter, Francoise Bettencourt-Myers, who claims a close confident of her mother's exploited the 86-year-old for just under €1 billion.
 

October 27, 2008

Peace looks to have returned to the boardroom of luxury carmaker Porsche AG after Wolfgang Porsche, partner and chairman of the supervisory board, revealed that the owning Porsche and Piëch families had met last week to discuss the company’s takeover of Volkswagen.

Peace looks to have returned to the boardroom of luxury carmaker Porsche AG after Wolfgang Porsche, partner and chairman of the supervisory board, revealed that the owning Porsche and Piëch families had met last week to discuss the company's takeover of Volkswagen.
 
In a statement, Porsche AG admitted that public discussion about the company's takeover of VW had "led to irritation" within the family, peaking last month when Ferdinand Piëch (pictured), chairman of VW and Wolfgang's cousin, failed to attend a board meeting.

September 26, 2008

The Ambani brothers have clashed repeatedly in the years since their father died and his wife divided up the family’s Reliance empire between them.

The Ambani brothers have clashed repeatedly in the years since their father died and his wife divided up the family’s Reliance empire between them.
 
But the depth of their ill feeling can now be revealed after the news agency Press Trust of India reported that Anil is seeking damages worth $2 billion and has demanded an apology from elder brother Mukesh.
 

September 16, 2008

Family rivalries have surfaced in the Porsche and VW ranks with the revelation that Wolfgang Porsche, chairman of the holding company that owns the stakes in the carmakers, plans to oust his cousin Ferdinand Piëch as chairman of VW.

Family rivalries have surfaced in the Porsche and VW ranks with the revelation that Wolfgang Porsche, chairman of the holding company that owns the stakes in the carmakers, plans to oust his cousin Ferdinand Piëch (pictured) as chairman of VW.

The news came after rare public fighting between the Porsche and Piëch clans, who own sports car maker Porsche Automobil Holding AG and control a 31% stake Volkswagen, soon to be a majority.

August 27, 2008

The commissioner of America’s National Football League has called a meeting at NFL headquarters in New York to try and broker peace between the disputing family factions who own the Pittsburgh Steelers franchise.

The commissioner of America's National Football League has called a meeting at NFL headquarters in New York to try and broker peace between the disputing family factions who own the Pittsburgh Steelers franchise.

Yesterday, commissioner Roger Goodell met with Steelers chairman Dan Rooney (pictured) and his four brothers, as well as representative owners from the league, in a bid to start talks with the family and outline the NFL's requirements for any prospective sale.

July 28, 2008

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders.

Walter Kwok, who was replaced by his mother following a disagreement with his two younger brothers in May, said, "Rather than key positions in the company being taken by the family, we should be more inclined to have the most suitable person fulfil the key positions."

July 18, 2008

The bitter battle between two leading Indian family heirs continues. Mukesh Ambani’s Reliance Industries has started arbitration proceedings against Reliance Communications, the part of the family empire controlled by younger brother Anil.

The bitter battle between two leading Indian family heirs continues. Mukesh Ambani's Reliance Industries has started arbitration proceedings against Reliance Communications, the part of the family empire controlled by younger brother Anil.

The action follows the failure of Anil to participate in meetings aimed at resolving a dispute over share ownership. Reliance Communications is currently negotiating with South African mobile telecoms group MTN over a merger.

June 20, 2008

Huntsman Corporation has said it will “vigorously enforce all of its rights” to consummate the merger agreement it signed with Hexion Specialty Chemical last year.

Huntsman Corporation has said it will "vigorously enforce all of its rights" to consummate the merger agreement it signed with Hexion Specialty Chemical last year after Hexion yesterday filed a lawsuit against the family-owned company.

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