This is simply the majority owners finally putting their foot down and insisting that the minority owner stop obfuscating the entire operation from them.
The minority owner doesn't want to do that ... so she bailed and called it a "hostile takeover".
It's not complicated, and it's not a "hostile takeover" when the majority owners decide to exercise their rights as .... well ........majority owners.
The operation has been on skaky ground for a long time. Nothing like a feud to make some money for the lawyers.
I wonder what happened to all the money that peopled pledged (unwisely) to try to buy the building.
I saw a couple of show there when thy tried to compete with Jazz Fest. Some good acts but played to a not so full house.