Court affirms minors' inheritance rights

The Grand Civil Court (Primary Court) ruled that the deed of transfer of 90% of the shares of a major hotel and restaurant company was invalid, as it was proven that the transaction lacked seriousness and the ownership had not genuinely transferred to the transferee, despite the decedent signing the document prior to his death. The court confirmed that the decedent continued to manage the company and channel funds into it effectively until his death, and that the ownership of the shares had not actually changed hands following the purported transfer. The court also noted the absence of any evidence of receipt of real financial consideration in exchange for the transferred shares, and that the continued management by the decedent indicated that the ownership transfer was not genuine. The ruling is made in the context of protecting the rights of the minor heirs, emphasizing that the apparent (sham) transaction did not constitute a true transfer of ownership.

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