Jamaican businessman Delroy Howell who is the lead principal of New Kingston’s Wyndham Hotel, is embroiled in a bitter legal to fight off a former company employee who somehow manage to gain control of one of his companies.

Last week, Judith Wilchombe attempted to place a freezing order on the assets of Delroy Howell and a director of his companies Kenarthur Mitchell, claiming that both men misappropriated or have failed to account for US$13.9 million in assets that was under their management.

The freezing order was lifted by Justice Patrick Brooks of the Supreme Court of Jamaica who said in court: “On the matter of the likelihood of the assets of the defendants being dissipated, I find that the claimant has produced very little by way of evidence in this regard.”

Wilchombe was represented by Attorneys Michael Hylton & Associates and Howell byRichard Small QC, Lord Anthony Gifford QC and Conrad George. Howell owns a number of businesses in Jamaica, the Cayman Islands and the Turks& Caicos. Earlier this year he completed the sale of Quick Cash to Jamaica National and acquired the former Kingston Hilton Hotel now rebounded as the Wyndham Hotel. None of those deals are affected by this imbroglio.

Last week, Michael Hylton went ex parte to the Court of Appeal to get the application for the freezing of the assets to be reinstated after the court held there was no reason to freeze those assets. Justice Panton made the following direction: ” I am not minded to grant this application without hearing the other parties. I have read the material and have not seen anything to suggest that I should grant it.

“The appeal should be listed for hearing as early as possible.”

Howell held 80 per cent of the shares of First Financial Caribbean Trust Company with Dr Joseph Marzouca holding the remaining 20 per cent. What is not known is how Wilchombe managed to acquire a majority stake in the company, and then dismissed both Howell and Mitchell from the board of directors. What is known is that she acquired Marzouca’s shares. Justice Brooks held that how Wilchombe gained control of the company from Howell was a matter for the courts in the Turks& Caicos Islands. Howell will be taking legal action against Wilchombe in the courts of the Turks& Caicos to regain control of his company and seeking redress for the manner in which Wilchombe seized control of First Financial Caribbean Trust Company. The case there begins on Wednesday the 27th of October, 2010.

Speaking with Sunday Finance, Howell said: “When the case is completed in the Turks & Caicos it will show that I hold 80 per cent of the company. We have applied to the magistrates court there for rectification of the register of members pursuant to section 44 of the Companies Ordinance, Chapter 122 and to show that Wilchombe fraudulently acquired 2000 shares in First Financial Caribbean Trust Company.The assets of the Trust have nothing to do with our other four companies.”

Howell maintains that Marzouca transferred his shares to Wilchombe without his knowledge. He stresses that his objective is to discover how Wilchombe was able to get a hold of the 2000 shares and become a director of his company.

Howell continued:”It is clear to me that Wilchombe did not abide by the articles of the company. How can you become a majority shareholder of a company and the lead principal doesn’t know anything about it? It is left to her to explain exactly what happened. The judge in the Turks& Caicos has said that whatever happens in the courts in Jamaica does not affect proceedings in the Turks& Caicos.

“The judge in Jamaica has held that We have not dissipated assets and come to think of it how do you dissipate the Wyndham Hotel which I own and is out there? The court rightly ruled that there is no dissipation. In fact we have filed a counter suit in Jamaica and we are fighting her all the way through the courts.”

Wilchombe and her attorneys could not be reached for comment.

Howell made the point that his director Kenarthur Mitchell is a well respected member of Jamaica’s financial community who has headed one of the largest credit unions in the country. He said it was unfortunate that someone would seek to defame that reputation with unsubstantiated claims.

Jamaican businessman Delroy Howell who is the lead principal of New Kingston’s Wyndham Hotel, is embroiled in a bitter legal to fight off a former company employee who somehow manage to gain control of one of his companies.

Last week, Judith Wilchombe attempted to place a freezing order on the assets of Delroy Howell and a director of his companies Kenarthur Mitchell, claiming that both men misappropriated or have failed to account for US$13.9 million in assets that was under their management.

The freezing order was lifted by Justice Patrick Brooks of the Supreme Court of Jamaica who said in court: “On the matter of the likelihood of the assets of the defendants being dissipated, I find that the claimant has produced very little by way of evidence in this regard.”

Wilchombe was represented by Attorneys Michael Hylton & Associates and Howell byRichard Small QC, Lord Anthony Gifford QC and Conrad George. Howell owns a number of businesses in Jamaica, the Cayman Islands and the Turks& Caicos. Earlier this year he completed the sale of Quick Cash to Jamaica National and acquired the former Kingston Hilton Hotel now rebounded as the Wyndham Hotel. None of those deals are affected by this imbroglio.

Last week, Michael Hylton went ex parte to the Court of Appeal to get the application for the freezing of the assets to be reinstated after the court held there was no reason to freeze those assets. Justice Panton made the following direction: ” I am not minded to grant this application without hearing the other parties. I have read the material and have not seen anything to suggest that I should grant it.

“The appeal should be listed for hearing as early as possible.”

Howell held 80 per cent of the shares of First Financial Caribbean Trust Company with Dr Joseph Marzouca holding the remaining 20 per cent. What is not known is how Wilchombe managed to acquire a majority stake in the company, and then dismissed both Howell and Mitchell from the board of directors. What is known is that she acquired Marzouca’s shares. Justice Brooks held that how Wilchombe gained control of the company from Howell was a matter for the courts in the Turks& Caicos Islands. Howell will be taking legal action against Wilchombe in the courts of the Turks& Caicos to regain control of his company and seeking redress for the manner in which Wilchombe seized control of First Financial Caribbean Trust Company. The case there begins on Wednesday the 27th of October, 2010.

Speaking with Sunday Finance, Howell said: “When the case is completed in the Turks & Caicos it will show that I hold 80 per cent of the company. We have applied to the magistrates court there for rectification of the register of members pursuant to section 44 of the Companies Ordinance, Chapter 122 and to show that Wilchombe fraudulently acquired 2000 shares in First Financial Caribbean Trust Company.The assets of the Trust have nothing to do with our other four companies.”

Howell maintains that Marzouca transferred his shares to Wilchombe without his knowledge. He stresses that his objective is to discover how Wilchombe was able to get a hold of the 2000 shares and become a director of his company.

Howell continued:”It is clear to me that Wilchombe did not abide by the articles of the company. How can you become a majority shareholder of a company and the lead principal doesn’t know anything about it? It is left to her to explain exactly what happened. The judge in the Turks& Caicos has said that whatever happens in the courts in Jamaica does not affect proceedings in the Turks& Caicos.

“The judge in Jamaica has held that We have not dissipated assets and come to think of it how do you dissipate the Wyndham Hotel which I own and is out there? The court rightly ruled that there is no dissipation. In fact we have filed a counter suit in Jamaica and we are fighting her all the way through the courts.”

Wilchombe and her attorneys could not be reached for comment.

Howell made the point that his director Kenarthur Mitchell is a well respected member of Jamaica’s financial community who has headed one of the largest credit unions in the country. He said it was unfortunate that someone would seek to defame that reputation with unsubstantiated claims.