Ireland: Dispute between family members that run Claddagh ring business comes before High Court - - PressFrom - United Kingdom
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IrelandDispute between family members that run Claddagh ring business comes before High Court

18:12  12 july  2019
18:12  12 july  2019 Source:   thejournal.ie

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Traditionally crafted Claddagh rings , Irish bracelets, Irish earrings, Celtic necklaces, Irish wedding rings , Claddagh Engagement rings & Irish Jewellery. Claddagh rings were originally worn in the village of The Claddagh and their traditional purpose at that time was to show marital status.

“When family members work for a family foundation, the compensation issue has to be handled carefully,” Mr. Ruderman said. “Or could someone say you’re just helping your hedge fund get more business by boosting the assets under management.

Dispute between family members that run Claddagh ring business comes before High Court © Catalyst Image Stock image

A DISPUTE BETWEEN members of a family whose firm sells and makes jewellery including the world famous Claddagh rings has come before the High Court.

The row involves brothers Andrew and Philip Fried, who are shareholders of Claddagh Jewellers, which have stores in Galway and Dublin, as well as selling its products online.

The company markets itself as “the home of the authentic Claddagh Ring” and employs 30 people and has a turnover of €4 million per year.

Their father Laszlo Fried, who emigrated to Ireland from Hungary, established a separate jewellery business known as Lazlo Jewellers, in Dublin in the 1960s.

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Aran Claddagh : This designer claddagh rope ring is inspired by the warmth of the Irish wool fibers twisted into the beautiful and strong yarn that is knitted The Claddagh Family Birthstone necklace is completely customizable. You can personalize each family necklace in your choice of birthstone

The influential members of the family , running a business together, set an example for other employees to follow and set the basis for the business ’ culture. Culture in a family business has a more informal approach and employees may have a stronger link with the owners.

Andrew Fried, of Leac Lian Barna Co Galway, has brought proceedings against Philip who he claims has in conjunction with his father Laszlo, who is not a shareholder nor a director of the firm, attempted to interfere with and frustrate the company’s business.

Andrew Fried, represented by Brian Conroy Bl, claims the actions are oppressive and have undermined the capacity of the company to operate effectively.

It is claimed that Philip Fried, along with his father had for some time have been interfering with the company’s suppliers.

There is also a dispute between the parties over €100,000 worth of diamonds, rubies, emeralds and gems which were allegedly removed from the company by Philip Fried currently being held in a safe at a related company.

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Approaching the courts to sort out a property dispute is invariably a long-drawn and expensive process. Here is a ready reckoner. What is this? In a nutshell, a family settlement is an agreement where family members mutually work out how a property should get distributed among themselves.

The Claddagh ring consists of a heart with a crown held by two hands - symbolizing love, loyalty and friendship. The Claddagh ring is associated with fidelity, love and romance in Irish culture and unsurprisingly, one of the main legends of the ring comes from a classic love story although there are

Andrew Fried seeks orders from the Court including one prohibiting his brother and others from contacting the company’s suppliers, and that either Philip sells him his stake in the company or buys him out.

He also seeks a declaration that Philip’s actions are in total disregard to and are oppressive to Andrew Fried capacity as a member of the company.

He further seeks an order for the return of the gemstones.

The claims are denied.

Claddagh Jewellers

Dispute between family members that run Claddagh ring business comes before High Court © Shutterstock GracePhotos File photo In separate, but related, proceedings against Andrew Fried and Claddagh Ring Ltd, Philip Fried of Thornberry, Bearna (SIC), Galway claims that he is the sole owner of the trademark Claddagh Jewellers.

In that action Philip Fried, represented by Stephen Moran Bl, seeks various orders and declarations including one restraining his brother and the company from infringing what he (Philip) claims is his trademark.

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When family members who own high -value businesses go to war with each other it can lead to lengthy, expensive legal action. "Those involved usually fall out and ending up never speaking to each other again," says Shulman. Most of these disputes are resolved financially and don't end up in court .

The Claddagh House is a family run Celtic Jewellery business that has been happily serving customers in countries such as Canada, the United States, England, Australia, Greece, and Germany. Proud Member . Please note all our prices are in canadian dollars.

The dispute has been mentioned before Ms Justice Leonie Reynolds on a number of occasions over the last number of weeks.

The judge initially granted an order, under section 212 of the 2014 Companies Act, preventing the media from reporting on the case.

The order was granted on the basis that the dispute concerned a family business and the public airing of the dispute had the potential to prejudice and cause irreparable damage to the business and further undermine the family relationship.

After mediation had to date failed to resolve the dispute, and arising out of the bringing of further proceedings concerning the trademark, the judge lifted the in-camera order allowing the media to report on the case.

The judge, noting that the dispute involved members of the same family, encouraged the parties to try and mediate their differences.

The matter returns before the courts next week.

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