In a significant legal development, Paul Simpson, Deputy Chairman of Barita Investments Limited, has expressed relief and a sense of vindication after the committee managing the affairs of retired businesswoman Rita Humphries-Lewin decided to drop its legal case against Barita Investments, Cornerstone Group, and two key executives: Simpson and Jason Chambers.
This decision, confirmed last week, follows a meeting between the committee, which has been overseeing Humphries-Lewin’s estate since it was appointed by the court in July 2023. The committee, led by Humphries-Lewin’s husband, Karl Lewin, made the formal decision after reviewing new documents concerning the sale of shares in Barita and the subsequent purchase of shares in Cornerstone United Holdings Jamaica. The committee also issued a public apology for its earlier actions, acknowledging the harm caused by the accusations and stating that the new information had cleared up any misunderstandings.
Simpson responded positively to the decision, noting that the conclusion of the case marks a significant win for his integrity and the credibility of his judgment. He emphasized that the allegations had caused significant personal and professional harm, particularly as they had led to missed opportunities and questioning from the company’s correspondent banks. “This has been a tough journey, and to now have our names cleared is a relief,” Simpson said.
In a formal statement included in the settlement agreement, the committee, after consulting legal advisors, confirmed the withdrawal of all claims against Barita and the Cornerstone Group. The committee specifically acknowledged that the accusations had cast doubt on the professional integrity of Simpson, Chambers, and the Cornerstone companies. It further regretted the harm caused by these allegations and the subsequent counterclaim that had been filed.
The legal battle stemmed from a series of transactions that took place in 2021, where Rita Humphries-Lewin sold a significant portion of her Barita shares and used the proceeds to purchase shares in Cornerstone. However, the sale became contentious after allegations emerged from Humphries-Lewin’s niece, Deborah Mordecai Edwards, who claimed the transaction was conducted under fraudulent circumstances and that her aunt was mentally unfit to make the decision.
Cornerstone had initially sought a declaratory judgment, even offering to unwind the transaction out of respect for Humphries-Lewin. However, these efforts were rejected, and Mordecai Edwards pursued a larger financial claim, seeking a US$20 million payment instead of the original US$15 million transaction value.
Now that the case has been withdrawn, the matter seems to be resolved, allowing Barita and Cornerstone to move forward without the looming legal shadow. This marks a pivotal moment for Simpson, Chambers, and the Cornerstone Group, as they can now focus on further growth and strengthening their market position.
