The owner of a funeral home has agreed to repay her son-in-law $2.5 million within the next three years. Yesterday, Malik Carter King (formerly Murad Khan) and his mother-in-law Sharon Ram, who owns Celestial Funeral Service Ltd in Claxton Bay, entered into a consent order in which Ram also agreed to allow him to retain 51 per cent of the business until she repays the money, which he had invested in the business.
In congratulating the parties for putting their relationship first, Justice Frank Seepersad said, “Other than the relationship with God, there is possibly no relationship that is as important as that of a parent and a child. The parties need to be congratulated for their compromise in the matter.”
King, who is in a common-law relationship with Ram’s daughter in Ontario, Canada, took Ram to court to retrieve the money. King said in December 2011 they agreed that they would start a family business in Trinidad and decided to go into the funeral home business because Ram already had a background and experience in it.
King claimed it was agreed that he’d be a 51 per cent shareholder and the sole investor and that Ram would manage the business and that he would be appointed company president. He claimed at Ram’s request he invested money in the business between 2011 and 2013. However, he claimed sometime after that Ram indicated she no longer wanted to be part of the business but she would repay him the money.
Ram disputed the amount of money claimed by King, or that the money he invested in the business was a loan to be repaid. According to the consent order, Ram is to be paid quarterly instalments and in the interim appoint King as the director and that he be entitled to 51 per cent of the business. King also agreed not to cause the business to be dissolved, liquidated or have any of its assets sold unless there is non-compliance with the terms of the order.
No costs were ordered.