The company is a fisheries company which is notable under common law for having set legal precedent in the conversion of its 123-year old unlimited jouissance (permanent lease/999-year lease) into a permanent grant[2] by the UK Privy Council in 2008[3] giving it title[4] to thirteen islands known as The Thirteen Islands of St Brandon in the Indian Ocean on the isolated archipelago of the Cargados Carajos shoals.

Captain Raphaël travelled regularly to Île Raphael, St Brandon from Port Louis and, on 17 May 1816[15] and November 1817,[16] is on record as bringing back salted fish[17][18] on a Lugger called 'Le Cheriby'.

On 11 August 1995, court proceedings were started by The Raphael Fishing Company Ltd., against a Mr Talbot who purported to own six islands and the Iles Boisées.

On 27 July 2006, the UK Privy Council (which has the power to do this under the Mauritian Constitution) intervened to grant the Raphael Fishing Company Ltd., leave to appeal.

On 30 July 2008, in keeping with the Constitution of Mauritius,[19] the Judicial Committee of the Privy Council rendered its verdict[20] as follows: "For the reasons given in the above judgment the Board will allow this appeal, set aside the orders made in the courts below and declare that [the Raphael Fishing Co. Ltd.,] is the holder of a Permanent Grant of the islands mentioned in the 1901 Deed (...) subject to the conditions therein referred to".