Family Business Blog
Aug 09, 2013
Bob Jane - another Sad Day in a family business saga
A decision was handed down in the Victorian Supreme Court today in an action taken by motor racing legend Bob Jane, against his son.
Though the judge decided in favour of Rodney Jane, there were no real winners here and it is a sad tale of another successful family business that has had to endure the ignominy of a very public family breakdown.
Are there any lessons that we can learn from this? For the family itself, it will probably take a while for things to settle sufficiently for them to reflect. However for those of us removed from the personal passions involved there are many.
1 Even the best of relationships can sour. 2 Certainly legal remedies are available however the pain that Bob, Rodney and those close to them are feeling, isn't eased through having your day in court.3 Careful documentation of agreements makes sense. It is a logical step to take, but even these can be subject to court action.4 Unless trust and strong avenues for communication are built in the good times, there's little hope of working through to amicable solutions when relationships deteriorate.5 Putting in place structures such as a Family Council and developing a Family Charter are great steps. But they alone are NOT the answer. They need continual work and the involvement of all parties for them to serve their intended purpose in the tough times.
As I said earlier, I don't think there are any winners in this case (or any family business that ends up before the courts). In a family business it's not just about the money or who's right or who's wrong. It goes beyond that. It cuts to the core.
I hope that Bob and Rodney find a way to reconcile. That those controlling that family's business take steps to ensure that it is protected for future generations by putting in place some family governance disciplines.
And for all of us who are just observers in this tragedy, hopefully we can learn from this sad case and ensure that one day, it's not our family in the headlines.
Though the judge decided in favour of Rodney Jane, there were no real winners here and it is a sad tale of another successful family business that has had to endure the ignominy of a very public family breakdown.
Are there any lessons that we can learn from this? For the family itself, it will probably take a while for things to settle sufficiently for them to reflect. However for those of us removed from the personal passions involved there are many.
1 Even the best of relationships can sour. 2 Certainly legal remedies are available however the pain that Bob, Rodney and those close to them are feeling, isn't eased through having your day in court.3 Careful documentation of agreements makes sense. It is a logical step to take, but even these can be subject to court action.4 Unless trust and strong avenues for communication are built in the good times, there's little hope of working through to amicable solutions when relationships deteriorate.5 Putting in place structures such as a Family Council and developing a Family Charter are great steps. But they alone are NOT the answer. They need continual work and the involvement of all parties for them to serve their intended purpose in the tough times.
As I said earlier, I don't think there are any winners in this case (or any family business that ends up before the courts). In a family business it's not just about the money or who's right or who's wrong. It goes beyond that. It cuts to the core.
I hope that Bob and Rodney find a way to reconcile. That those controlling that family's business take steps to ensure that it is protected for future generations by putting in place some family governance disciplines.
And for all of us who are just observers in this tragedy, hopefully we can learn from this sad case and ensure that one day, it's not our family in the headlines.
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