A Louisiana woman is suing her brother and sister in a Gretna court to liquidate the family netting and rigging business. The father started Arabi Sling and Rigging Company Inc in 1972, and passed ownership of the company to what appears to be his 2 daughters and his son.
Since 2009, the company’s expenses, and in particular the salaries paid to the executives, have significantly increased, and those increases amount to breach of fiduciary duty, unjust enrichment, wrongful termination and violation of state law, alleges the plaintiff.
The plaintiff has asked the court to liquidate the entire business. Hopefully, the parties are able to come to a settlement that allows the business to survive.
Read more about the lawsuit on LouisianaRecord.com.