SUPERCLUBS chairman John Issa had difficulty recalling who were the owners of a Cayman company, Middle East Ventures, which was the largest shareholder in his hotel chain, but later admitted his wife was part owner of that company.

Giving a follow-up deposition in the Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County, Florida, in pursuance of a lawsuit he filed in the US, Issa said that when he founded Village Resorts Limited, owners of SuperClubs, the other shareholders were Hugh Hart (the former government minister); Cargill Brown; Anthony Ferrari; David Rantz, Frank Hall and a company called Middle East Ventures.

Asked who owned Middle East Ventures, he first said: “That’s not public information.” But when pressed by attorney Reginald Clyne of Clyne and Associates, representing the defendants, Issa added: “It’s a Cayman company and the ownership is not on record.”

The Jamaican hotelier is maintaining that his reputation was damaged in defamatory e-mails traced to computers originating in Florida. The follow-up deposition to one given in January, was taken on September 9, 2009, and a copy of the transcript of the proceedings was just obtained by the Sunday Observer.

Under further questioning, Issa said: “I don’t know who owns Middle East Ventures.”

Clyne: “Does Jamaica have anti-money laundering laws?”

Issa: “Yes.”

Clyne: When you formed this corporation, Village Resorts Ltd, you had a Middle Eastern company owning shares in it but you don’t know who the owners are?”

Issa: “A Caymanian company with a name called Middle East Ventures Ltd. I don’t know who the shareholders are now. I knew who they were then and.one second. Let me finish. There were none of those laws there when this company was formed.”

Clyne: “Do we know that drug dealers weren’t.”

Issa: “We know that.”

Clyne: “Who owned it then, Mr Issa?”

Issa: “It was various members of my wife’s family and it was owned, I think, through a trust.”

Clyne: “Was your wife one of the owners?”

Issa: “I’m not sure what her ownership in Middle East Ventures, but whatever I have, we own jointly, although it may be in my name.”

Clyne: “Let’s focus on Middle East Ventures. You said it was members of your wife’s family. Which members of your wife’s family?”

Issa: “I don’t recall now. That was various people and her that her brother put together.”

Clyne: “What was the name of your brother? Do you know the name of your brother-in-law?”

Issa: “Fuad Kattan.”

Clyne: “Besides Fuad Kattan, who else owned shares?”

Issa: “I don’t know. I think it’s in a trust.”

Clyne: “What other members of your wife’s family, potentially, if you can’t recall now?”

At this point, Issa’s attorney Joe DeMaria instructed his client not to speculate.

Issa: “I told you I don’t know, so I’m not speculating.”

Clyne: “When you initially told me you didn’t know, then we got out that Fuad owned it.”

Issa: “I said Fuad put the group together and I said it’s probably owned by a trust.

Clyne: “Did Aida Issa (John Issa’s wife) own any shares in Middle East Ventures?

Issa: I don’t think so.”

DeMaria: “Asked and answered.”

Clyne: “What did you say please?”

Issa: “I don’t think so.”

Clyne: “So you don’t know for sure whether your own wife owned a company that was a majority.”

Issa: “I told you.”

Clyne: “.shareholder in Village Resorts?”

DeMaria: Objection. He said he didn’t know.”

Issa: “She was not a majority shareholder during the formation. You asked me about the company at the formation. Please do not try to confuse me.”

Clyne: “I really do not want to do that. At the formation, how many shares did Middle East Ventures own?”

Issa: “I can’t remember the exact amount, but it was less than half.”

Clyne: “Okay, was it the largest shareholder?”

Issa: “Yes.”

Clyne: “It may not have been the majority, but it was the largest shareholder at the formation?”

Issa: “I’m not sure. I’m not sure. It was a long time – 30- odd years ago.”

Later in the deposition, Clyne asked Issa if there was a pre-emption clause in the shareholder agreement. The SuperClubs boss explained that “it was a “very special pre-emption clause which allowed for shares between members of the company not to come under the jurisdiction of the preemption clause”.

Clyne: “Did some members object when you bought John Hall’s shares?”

Issa: “If you mean Frank Hall’s shares, yes.”

Clyne: “Okay. Frank Hall’s shares. I’m sorry. That was objected to when you bought them without allowing everybody an opportunity to buy them?”

Issa: “Because Frank Hall was a member and sold it to another member, so it was not required to be offered to all the members. I stated that before.”

Clyne: “Okay. I’m just trying to get the facts. I don’t want to upset you.”

Issa: “But when I say something once, please don’t waste my time and yours asking it again. If you don’t understand my answer, please ask me to explain.”

Clyne went on to ask if Middle East Ventures/Village Resorts, was still in existence and who were the current owners. Issa responded “Caribbean Hotels” and that it was a St Lucian company.

Clyne: “Did anyone advise you to create Caribbean Hotels Ltd so you could avoid paying taxes?”

Issa: “No. We formed that company because we were expanding outside of Jamaica and it was a convenient structure.”

Clyne: “And when was that formed?”

Issa: “I can’t remember.”

Clyne: “Was it 1996?”

Issa: “It could be. I said I can’t remember.”

Clyne: “I’m trying to help your memory.”

DeMaria: “It doesn’t help his memory because you say something. Show him something.”

Issa: “If you have when it was registered, show it to me.”

DeMaria: “Show him. Otherwise, why waste time?”

Clyne: “I just asked. If he doesn’t know, we can go through this. Everybody is getting upset.”

Issa: “I’m not getting upset, but you are wasting both our times.”

Clyne: “.You are the one who brought this lawsuit?”

To be continued