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Gluskin Sheff + Associates expects arbitration with founders to end by mid-2017

Canadian wealth management firm Gluskin Sheff + Associates Inc. expects the private arbitration with its co-founders, Ira Gluskin and Gerald Sheff, to be finished in early 2017, with a decision coming in the middle of next year.

The two founders have argued that the company is in breach of its obligation to pay bonuses to some of its service providers, a condition they say requires the company to pay out, at market value, most of the retirement packages owed them. Gluskin is seeking a $75 million payment, while Sheff is seeking $110 million.