The Northridge Earthquake, which was centered under the Northridge Meadows apartments, put Shashikant Jogani in deep debt. With the help of his brothers, he built the real estate empire back up. But a family business arrangement on loan repayment and company shares was made without a written contract. The family was left to fight it out in court, where a sibling rivalry played out and put their mother in a position to choose sides.
At issue was whether two of the brothers had struck an oral agreement nearly 30 years ago. Such a contract would determine ownership of vast real estate holdings worth billions, one of the highest stakes ever seen in a Los Angeles civil courtroom. One brother swore the contract existed; another denied it ever happened. |
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