MONTREAL — A multimillion-dollar family feud among heirs of Quebecor's founder that's lasted for two decades will continue after Pierre Karl and Erik have decided to appeal a court ruling favouring their sister Anne-Marie.
In a news release Friday afternoon, the Peladeau brothers said they have no choice but to appeal the decision by Quebec Superior Court Justice Gerard Dugre because his reasons had "significant errors."
The 80-page judgment rendered Thursday ordered Placements Peladeau Inc. (PPI), which controls the conglomerate, to pay $36 million, in addition to interest and court fees, to Ms. Peladeau, who has just celebrated her 55th birthday.
By turning to an appeal, the brothers rejected the appeal for reconciliation put forward by the judge, who said he hoped his decision will constitute the "last act" of a long, "unhappy and expensive" family and legal saga.
The daughter of the late Pierre Peladeau was claiming $88 million from her brothers in connection with an agreement dating back to 2000 relating to the purchase of her shares in order to settle an inheritance dispute of their father who died in 1997.
They proposed instead the payment of $51.6 million.
This report by The Canadian Press was first published May 1, 2020.
The Canadian Press
Note to readers: This is a corrected story. An earlier version referred to the purchase of Pierre Peladeau's shares or his shares.