Sabian Family Feud
In his notice of action, Bill, Robert’s [Zildjian] eldest son, alleges his father is misusing company funds for personal expenses and that his brother Andy is actively undermining his position and influence on the business.
“Bill has justifiably lost the trust and confidence in his father Robert and his brother Andy on which their business relationship has been premised,” court documents state. “Bill has no way to exit on fair terms from this situation without the assistance of the Court. Some form of corporate divorce is the only practical solution.”
That’s Bill Zildjian (as in the “BI” of “Sabian”) and Andy Zildjian (the “AN” of “Sabian”). No words on Sally’s take on all this. The article goes on to state:
He’s asking the court to force the company and his family to pay him dividends for his shares equal to those paid to other shareholders from 2002 to 2005, plus interest.
He also requests that an independent party determine the fair value of his interest in Sabian Canada and affiliated corporate entities so the defendants can buy him out.
An alternative, the lawsuit suggests, is to wind up, dissolve and liquidate the company and assets as a whole.
Whoa, that’s some hefty demands. It’s doubtful this will be wrapped up any time soon, but this is murky family business to say the least. It will be interesting to see if Andy (whom we’ve met and interviewed on Drummer Talk) is all smiles come November at PASIC 08.