Janis v. Castle Apartments, Inc.

In the 1940s, John Janis and Victor Gross began a joint business venture of acquiring and developing rental properties in the Akron, Ohio area. These properties (hereinafter referred to as the “Castle” properties) are owned by various corporations, partnerships and trusts, which in turn are owned and/or controlled by members of the Gross and Janis families. The properties were managed through Castle Apartments, Inc., in which John and Victor were equal shareholders.

In 1985, the Janis family, because of John’s poor health, was considering selling its interest in the business to the Gross…