Houston International Management & Trade, Inc. v. Peacock Shipping and Trading, Inc., Celestial Holdings, LTD., and Celestial Company

CourtTexas Court of Appeals, 1st District (Houston)
DecidedApril 14, 2026
Docket01-24-00542-CV
StatusPublished

This text of Houston International Management & Trade, Inc. v. Peacock Shipping and Trading, Inc., Celestial Holdings, LTD., and Celestial Company (Houston International Management & Trade, Inc. v. Peacock Shipping and Trading, Inc., Celestial Holdings, LTD., and Celestial Company) is published on Counsel Stack Legal Research, covering Texas Court of Appeals, 1st District (Houston) primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Houston International Management & Trade, Inc. v. Peacock Shipping and Trading, Inc., Celestial Holdings, LTD., and Celestial Company, (Tex. Ct. App. 2026).

Opinion

Opinion issued April 14, 2026

In The

Court of Appeals For The

First District of Texas ———————————— NO. 01-24-00542-CV ——————————— HOUSTON INTERNATIONAL MANAGEMENT & TRADE, INC., Appellant V. PEACOCK SHIPPING AND TRADING, INC., CELESTIAL HOLDINGS, LTD., AND CELESTIAL COMPANY, Appellees

On Appeal from the 151st District Court Harris County, Texas Trial Court Case No. 2018-70719

MEMORANDUM OPINION

This trespass to try title case involves companies owned by family members

and an assertion of adverse possession. Peacock Shipping and Trading, Inc., Celestial Holdings, Ltd., and Celestial Company (the Peacock parties) are record

title holders to 23 lots of commercial property in Houston. Marios Giakoumakos1

owns these companies. His nephew, Spiro Giakoumakos, owns Houston

International Management & Trade, Inc. (HIM), a company that leases space on the

properties to third parties and to a company owned by both Spiro and Marios.

After operating on the properties for years, HIM filed suit seeking a

declaration that it owns the properties, and it asserted a trespass to try title claim

based on adverse possession. A jury did not find that HIM had held the properties in

peaceable and adverse possession for at least ten years. The jury further found that

HIM and the Peacock parties had agreed that HIM would manage the properties for

the Peacock parties. The trial court rendered judgment on the jury verdict, and its

final judgment included declarations that the Peacock parties owned the properties

at issue.

In four issues, HIM argues that the trial court erred by (1) denying its motion

for judgment notwithstanding the verdict on the issue of adverse possession;

(2) submitting two jury questions relating to a management agreement between HIM

and the Peacock parties and denying HIM’s motion for JNOV relating to the jury’s

1 Marios Giakoumakos is referred to as “Marios,” “Mario,” and “Marcos” interchangeably throughout the appellate record. We refer to him as “Marios,” the name that his counsel uses in the Peacock parties’ appellate brief and the trial court used in the final judgment. 2 findings on the management agreement; (3) denying its motion for new trial based

on juror misconduct and newly discovered evidence; and (4) declaring that the

Peacock parties owned the properties.

We affirm.

Background

Marios and John Giakoumakos were twin brothers who moved to the Houston

area from Greece. In 1974, they formed a company called Twins Marine Repairs &

Supplies, Inc., which provided repair and supply services to ships arriving at the Port

of Houston. Marios is a mechanical engineer, and in the early days of the company,

he handled the actual repair, construction, and inspection work done on ships. John

focused on the administrative responsibilities of operating the business.

At some point, Twins Marine acquired 21 lots on Mayfair Street in southeast

Houston, and it operated from these properties. In September 1988, Twins Marine

executed three separate warranty deeds. In the first deed, Twins Marine conveyed

12 lots to Peacock Shipping and Trading, Inc. In the second deed, Twins Marine

conveyed 8 lots to Celestial Holdings Limited. And in the third deed, Twins Marine

conveyed an additional lot to Celestial Holdings. In an unrelated transaction that

occurred nine months earlier in December 1987, Ellen and Billy Ipes conveyed two

3 lots on Mayfair to Celestial Company. These 23 lots are the properties at issue in

this appeal. Marios owns Peacock and Celestial Holdings.2

On the same date that Twins Marine conveyed the properties to Peacock and

Celestial Holdings, Twins Marine signed agreements leasing the properties from

Peacock and Celestial Holdings for one year. The leases contained provisions

allowing Twins Marine to holdover after the lease term, with Twins Marine “to be

occupying the premises on the basis of a month-to-month tenancy.” Twins Marine

continued operating at the properties beyond the one-year lease term. In the mid-

1990s, John’s son Spiro Giakoumakos began working at Twins Marine while he was

in college, primarily doing office work and deliveries.

In 1999, Stylianos Kallergis, a “trusted figure” to the Giakoumakos family,

formed HIM at John’s urging. By this time, Twins Marine had dramatically reduced

its physical footprint on the properties, and it occupied only a small portion of the

lots. HIM took the lead in renting out the remaining space on the properties to third

parties. In 2008, Kallergis left HIM, and Spiro assumed ownership of that company.

Twins Marine also underwent changes in ownership. Although Marios had

helped form the company, he had not held an ownership interest in it since the 1970s.

2 Celestial Company does not appear to have an actual corporate existence. The Peacock parties acknowledged as much in their written pleadings, calling Celestial Company “an entity that does not exist.” Likewise, in his petition in intervention, Marios referred to Celestial Company as “an unknown entity.” 4 Instead, John and the twins’ mother owned equal interests in the company. In 2010,

Marios obtained his mother’s interest, and he and John owned Twins Marine in equal

shares until 2016, when Spiro received John’s interest. John died in 2018.

HIM sued the Peacock parties in October 2018. It alleged that the Peacock

parties did not take any actions concerning the properties, forfeited their corporate

charters, and ceased doing business in Texas. HIM, on the other hand, effectively

owned and operated the properties since its inception in 1999, leasing space to Twins

Marine and third parties, collecting rent, and maintaining the properties. HIM

requested that the trial court enter a declaration that HIM owned the properties and

render judgment establishing HIM as the properties’ owner under Property Code

Chapter 22. HIM later amended its petition to assert a trespass to try title claim

against the Peacock parties based on adverse possession.

On February 20, 2020, the Peacock parties filed a counterclaim. They alleged

that Peacock and Celestial Holdings agreed to have HIM manage the properties,

“including collecting rents and paying taxes.” The Peacock parties allegedly

terminated this management agreement in December 2019—after HIM had filed

suit—and demanded that HIM turn over various documents and direct all future

payments from tenants to the Peacock parties, but HIM refused. The Peacock parties

asserted claims against HIM for money had and received, conversion, and breach of

contract, and it sought imposition of a constructive trust, an accounting, injunctive

5 relief, and exemplary damages. Marios later intervened in the suit and asserted

identical claims against HIM.

At trial, two fact witnesses testified: Spiro and Marios. Spiro testified

concerning HIM’s actions on the properties, including its extensive dealings as

landlord to third parties that rented space on the properties. Marios worked for HIM

for several years, and his duties included helping collect rent from tenants and

deposit these amounts. According to Spiro, Marios never questioned why he was

depositing rental payments in HIM’s bank account, as opposed to an account

maintained by one of the Peacock parties. Twins Marine also assisted with

management, maintenance, and repairs on the properties, and it received a monthly

management fee from HIM.

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Houston International Management & Trade, Inc. v. Peacock Shipping and Trading, Inc., Celestial Holdings, LTD., and Celestial Company, Counsel Stack Legal Research, https://law.counselstack.com/opinion/houston-international-management-trade-inc-v-peacock-shipping-and-txctapp1-2026.