The sum of $3.3 million JMD has been paid over to Ruel Reid as agreed in an out of court settlement with the Jamaica College Trust.
The difficult commercial decision was taken after seeking legal advice and weighing the risk of proceeding with a costly litigation process. Derek Jones, Chairman of the Jamaica College Trust disclosed that the settlement comes at a cost of 10% of the amount at risk. “This puts the saga behind us and allows us to consider how best the money which was at risk in the lawsuit can be best used to further the interests of the 1,650 boys who attend Jamaica College,” Jones said.
In July of 2023 Mr. Ruel Reid filed a lawsuit in the Supreme Court against the Jamaica College Trust and the Jamaica College Foundation claiming an amount of some $28 million including interest. Reid’s claim was that certain incentives which had been agreed when he was the Principal of Jamaica College should be paid to him even during the period he was absent from the school on secondment, and then on special leave, to act as Minister of Education.
He alleged that the arrangements included certain verbal agreements made with Hon Danny Williams OJ who occupied various official positions connected to Jamaica College from time to time. The Trust and the Foundation consulted with Hon. Danny Williams and took legal advice which was to the effect that they had a good chance of success and so proceeded to file Defences in the lawsuit.
Unfortunately, Hon. Danny Williams passed in September of 2023, which meant that he would have been unavailable to give evidence to refute the claims of verbal agreements made by Mr. Reid. Consequently, the Trust decided to pursue the option of a settlement with Reid.
The Trust was advised that a trial of the matter would likely take place after several years and at a probable cost in legal fees of approximately $5 million. The total amount at risk was therefore of the order of $33 million.
JC Trust Chairman Jones expresses his relief with the latest development and is now directing his complete focus and efforts towards the further advancement of the school, the staff and students.