Family members sue over Sherman trust fund

Nephew, niece seek details on money billionaire invested

- KEVIN DONOVAN

A messy fight over riches from the “Bank of Barry Sherman” has spilled into court, with one side of the family taking legal action against another six years after the billionaire Apotex founder and his wife, Honey, were murdered.

The application recently filed in Superior Court comes from two children of Honey’s sister and best friend Mary Shechtman — 29-year-old twins Matthew and Rebecca. They want Sherman’s son Jonathon and his two fellow estate trustees to provide a full accounting of a mysterious “trust” Barry set up the year before he died. The Shechtman twins believe the trust holds more than $500 million and they and other members of the extended Sherman family are entitled to some of it.

According to the application, Barry set up the “Bernard Sherman 2016 Trust” as a tax-planning strategy sometime in 2016 and named as beneficiaries the 22 children and grandchildren of Barry and Honey’s extended family, including the children and grandchildren of Honey’s sister Mary and Barry’s sister Sandra.

The trustees of both Barry’s estate and the 2016 trust are Jonathon Sherman, Sherfam money manager Alex Glasenberg, and Brad Krawczyk, who was formerly married to Sherman daughter Alexandra. It is those three men, the Shechtman twins allege, who have failed in their “fiduciary duties” to provide information on the trust to the beneficiaries. The lawyer for the Shechtman twins wants the court to suspend or remove the three trustees and appoint an independent trustee.

Jonathon’s lawyer, and a lawyer representing Glasenberg and Krawczyk, say they “disagree” with the allegations but declined to speak further as the matter is before the courts.