A bitter dispute between two brothers from the family behind the business which makes world famous Claddagh Rings has flared up again in a new row over ownership of a Spanish villa worth €969,000, the High Court heard.
Philip and Andrew Fried, who were shareholders of Claddagh Jewellers Ltd, settled a High Court dispute over the business in December 2020.
However, an application for an asset freezing order was made to the court on Friday by Philip’s barrister, Jarlath Ryan SC who said a “new front” had opened up in the long running dispute.
Mr Justice Brian Cregan granted him an interim injunction preventing Andrew Fried, his wife Felicity Fried, their children Isabella and Ruben, and a Spanish company, Villas Adelfa SL, from reducing their assets below €969,000.
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The application, in the names of Philip, his parents Janis and Laszlo Fried, Claddagh Jewellers Ltd, Claddagh Ring Ltd, and Irony Galway Properties Unlimited Co, was made on an ex parte (one side only represented) basis.
As part of the 2020 settlement, Philip said, the parties agreed to transfer to their mother Janis ownership of Villa la Joya in Benalmadena, Malaga, where their parents lived since 1975. The Spanish firm, Villas Adelfa, owned the property with the two brothers each holding half the shares in the company.
However, it subsequently emerged that Andrew, unbeknown to Philip or other parties to the settlement, had unlawfully transferred the previous June his shares in the company to his two minor children, Isabella and Ruben. This purportedly prevented the transfer of the property to their mother, Philip said in an affidavit.
He said Andrew made “explicit representations” for the December 2020 settlement agreement that he was capable of complying with its terms. As a result of finding out about the transfer to his children, he believes those representations constitute a fraudulent misrepresentation.
Philip said that over a long period of time Andrew had “carried out various unlawful transactions and made certain fraudulent and unconscionable manoeuvres” in relation to shares in the Spanish company in order to maintain control of it and to impede his obligations under the settlement agreement.
He also said eviction proceedings, at the behest of Andrew, were issued in Spain requiring their parents to leave the villa. A Spanish judge dismissed the application last September and made explicit reference to the December 2020 settlement agreement. An appeal has however been lodged against that decision in Spain.
He believes Andrew has, for at least the last 12 or 13 years, acted in a “fraudulent, harmful, destructive and pernicious manner” which has been detrimental to him (Philip), the Fried companies and to their parents.
Andrew had last December also issued a demand for the payment of some €4.9 million to him for what he describes as “outstanding loans, money, land and shares stolen from me and my family” since 2005.
This was in direct contradiction of the settlement agreement and evidence that Andrew never had any intention of being bound by it, he said.
Last June, Philip said he obtained a High Court injunction, pending further determination, preventing Andrew and his wife from taking any steps to prosecute the eviction proceedings in Spain.
Philip said the plaintiffs have clear and justified concerns that the defendants may misapply and/or dissipate corporate and/or personal assets which may be used to meet any judgment against them arising out of these proceedings. As a result he was seeking the freezing order.
Mr Justice Cregan granted the interim orders sought and adjourned the case for a week.
