The applicant sought to exercise an option under a secondary will to purchase the shares of the deceased's business.
The estate trustee and the applicant disputed the calculation of the purchase price based on an earnings formula, as well as the terms of the purchase.
The court determined the appropriate earnings calculation, rejected the estate trustee's attempt to impose unilateral conditions such as a spousal guarantee and restrictive covenants, and ordered that certain funds withdrawn by the estate be credited against the purchase price.
The applicant was granted 30 days to exercise the option at the determined price.
