Costly defeat for Sir Jack
Wolves life president Sir Jack Hayward has been ordered to pay thousands of pounds in court costs after losing a lengthy legal battle over his business dealings in the Bahamas.
The 84-year-old, who ended his ownership of Wolves last month, had been locked in a dispute over his ownership of the Grand Bahama Port Authority, which controls business management in Freeport.
Sir Jack was taken to court by his late busines partner Edward St George's family after he (Sir Jack) claimed he owned three quarters of the authority, but a judge ruled yesterday he only owned half.
The judge ordered Sir Jack pay all of the St George's costs, which are thought to run into hundreds of thousands of pounds.
Sir Jack did not appear at the hearing in Nassau and his legal team said he was still recovering from his heart scare last month.
Sir Jack arrived in Grand Bahama in 1956, and became a vice president of the port authority which helped promote the development of Freeport.
He took over his father's interests in the Bahamas, and continues to this day to play a role in developments in Freeport – where the Jack Hayward High School is named after him. The 2007 Sunday Times Rich List placed him as Britain's 438th richest with an estimated £160 million fortune.
