EFTA Document EFTA01459106

outsider. He also refused to repurchase Edward's shares, without Edward's explicit acknowledgement of the "oral trust." Soon, full-blown litigation ensued. This greatly embarrassed the family, especially Edward's mother, Belle, who urged Edward to settle. The litigation finally settled, with Edward able to sell two-thirds of his stock to NAI and agreeing that his other third "had always been held by Edward, 'for the benefit of his children ... in trust and not as beneficial owner."' NAI purc