Sandals heir apparent Adam Stewart disputes Butch’s alleged wishes
Executive Chairman raises doubts about legitimacy of late father’s last-minute memo giving US family major stake in hotel A disputed last “wish” made by late hotelier Gordon ‘Butch’ Stewart would strip his son and executive chairman, Adam Stewart, of significant say in the Sandals hotel chain.
According to Butch’s common-law widow Cheryl Hammersmith-Stewart, the wishes give the late mogul’s United States-based family, as a unit, the largest stake in the company, court documents seen by The Sunday Gleaner reveal.
According to court documents, Butch reportedly gave instructions just before his death that the shares of asset-holding companies in two Bahamian trusts be transferred into five newly established trusts for his family.
That means one trust for his US family (Cheryl and their three adult children – Gordon, Kelly and Sabrina); and one each for the Jamaican family members – Adam, his sister Jaime Stewart-McConnell and brothers Brian Jardim and Robert (Bobby) Stewart.
The claim is that the shares should be transferred on a proportional basis – the US family getting 42 per cent; Adam 16.67 per cent; Bobby 16.67 per cent; Jaime 16.66 per cent; and Brian eight per cent.
Executive Chairman raises doubts about legitimacy of late father’s last-minute memo giving US family major stake in hotel A disputed last “wish” made by late hotelier Gordon ‘Butch’ Stewart would strip his son and executive chairman, Adam Stewart, of significant say in the Sandals hotel chain.
According to Butch’s common-law widow Cheryl Hammersmith-Stewart, the wishes give the late mogul’s United States-based family, as a unit, the largest stake in the company, court documents seen by The Sunday Gleaner reveal.
According to court documents, Butch reportedly gave instructions just before his death that the shares of asset-holding companies in two Bahamian trusts be transferred into five newly established trusts for his family.
That means one trust for his US family (Cheryl and their three adult children – Gordon, Kelly and Sabrina); and one each for the Jamaican family members – Adam, his sister Jaime Stewart-McConnell and brothers Brian Jardim and Robert (Bobby) Stewart.
The claim is that the shares should be transferred on a proportional basis – the US family getting 42 per cent; Adam 16.67 per cent; Bobby 16.67 per cent; Jaime 16.66 per cent; and Brian eight per cent.
