A HIGH COURT judge has refused to grant an injunction to siblings of the Fernandes family in a squabble over a company that sold the Trinidad Country Club land in Maraval to the US Embassy for $316 million.

On Friday, Justice Margaret Mohammed dismissed an application for an injunction sought by Luisa Fernandes and three companies – Domus Trust, AM Investments, and Poui Investments, two of which are owned by her siblings – against Joseph Fernandes and Champs Elysees Ltd, formerly known as the Trinidad Country Club Ltd (TCC).

Joseph Fernandes is the majority shareholder in CEL, personally or through Aquila Ltd. Luisa Fernandes, Domus, AM, and Poui hold 21 per cent non-voting (B) shares in CEL.

In the application, filed on March 25, Luisa Fernandes claimed she was entitled to 138 of those B shares.

On March 25, she, Domus, and the two investment companies filed an injunction application asking for the 138 B shares held by the Rathbones Trust in CEL to be registered or issued in her name.

She also wanted a declaration that the business or affairs of CEL were conducted in a manner that was unfairly prejudicial or disregarded their interests under the Companies Act.

They also asked for independent auditors to be appointed to look at the books, records, and accounts of CEL; for an independent firm to examine CEL’s unaudited accounts; and for an interim order that all proceeds from the sale should be held in escrow and paid into court.

They also wanted an order to replace the board of CEL.

Representing the claimants were attorneys Om Lalla, Dereck Balliram, and Sue Chin Hing Ramdhanie. Attorneys Stephen Singh and Amanda Adimoolah represented Joseph Fernandes and CEL.

In her ruling, Mohammed said in deciding whether to grant the interim orders, she had to determine what order would result in the “least risk of irremediable prejudice.”

“The prejudice to the defendants is greater as it would prevent it from having access to the proceeds of the sale of one of its main assets, to continue the business of CEL by operating its wine shops, its restaurant, and developing land in Tobago.

“It would also deprive CEL of funds to meet its administrative expenses.

“In my opinion, placing all or any of the sums received from the sale into escrow would cause irreparable damage.”

She also said part-payment of the proceeds from the sale of the property into court was unworkable.

“There is no basis in law to support an order for the payment of 34 per cent of the proceeds of the sale of the property as this is not the declared dividend.”

She said even if the court made such an order it would be difficult to supervise, and if CEL is to invest the remaining 66 per cent of the sale and declare a dividend, then the issue that would arise is whether Louisa and the other claimants would be entitled to receive part of it.

“At this stage of the action the defendants have a stronger case based on the issues to be tried,” the judge said.

To support their application, Luisa; her sister Ana Maria De Meillac, and a dire