The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A GROUP of 10 former City Markets employees have obtained an injunction in the Supreme Court prohibiting the disposal of funds or assets worth $189,000 from the supermarket chain's pending sale to Super Value, according to court documents obtained by Tribune Business.

The Freeport-based former City Markets staff have also obtained a judgment "in default" against City Markets' operating parent, Bahamas Supermarkets (BSL), and its principal, Mark Finlayson.

The judgment in default was rendered by Justice Hartman Longely on April 13, after a non-appearance was entered by representatives for Bahamas Supermarkets or its principal in relation to a writ filed on behalf of Victoria Allen, Charles Forbes, Emily Adderley, Karia Cooper, Nancy Evans, Andrew Major, Malissa Saunders, Mavie Grant, Idella Grant and Anishka Bartlett. It was ordered that the plaintiffs recover damages against Bahamas Supermarkets (BSL).

The writ and statement of claim, filed on behalf of the former employees by Freeport-based attorney James Thompson back in February 2012,alleged that from August 2011, working hours at the supermarket chain's Eight Mile Rock and Lucaya stores were cut by up to 80-90 per cent.

The "conspiracy" alleging legal document, also claimed that "all or most of the funds" in the City Markets staff pension plan, the Bahamas Supermarkets Profit Sharing Retirement Plan, had been disposed of.

It further alleged that Bahamas Supermarkets ensured that Mark Finlayson, principal of 78 per cent City Markets' majority shareholder, Trans-Island Traders, and Philip Kemp, the supermarket's former chief financial officer, were appointed as pension fund trustees so that the fund was operated for the company's benefit, not that of its employee beneficiaries.

Apart from Bahamas Supermarkets, the immediate operating parent of City Markets, also named as defendants are Mr Finlayson and Mr Kemp, together with the former's father, Sir Garet 'Tiger' Finlayson. Attorney Renee McKay is representing Bahamas Supermarkets and Mark Finlayson.

But, in a recent Tribune Business interview, Mark Finlayson slammed the allegations, saying: "I have never done anything contrary to the laws of the Trust".

He added: "For the lawyers to just jump up and throw these accusations out is personally offensive to me, because I have acted honestly. I have never done anything contrary to the rules of the Trust.

"I expect for them to apologise to me for the way they have conducted themselves thus far. I would have thought the responsible thing to do would have been for them to contact me to find out what the overall status of the Trust would have been. They have not done that to date. They never made any contact with me to say they wanted to see what the status of the Trust was.

"I think that [the writ] was more of a publicity stunt rather than an serious attempt to find out what was going on in the Trust. I welcome any beneficiary to come and bring their legal representative, and I would be more than willing to bring them up to date on the status of the Trust. There is no basis for any kind of lawsuit against me or Philip Kemp as trustees."

In an injunction issued by Justice Longley on April 17, it was ordered that Bahamas Supermarkets and Mark Finlayson either be restrained by injunction from disposing of funds from the pending sale involving the company, or its assets, in the amount of $189,117.20.

The plaintiffs, along with Bahamas Supermarkets and Mr Finlayson, agreed to the terms order via their attorneys, according to the document. The order further stated that it was agreed by attorneys for the parties that the applications for Retirement Benefit will be forwarded to counsel for Bahamas Supermarkets and Mr Finlayson, who will process this according to the terms of the Plan. The results will be given to counsel for the plaintiffs within two weeks.