The shares will instead be divided among the surviving siblings and extended family of the deceased.
Thomas O'Connell was gifted 'Kerry Co-Operative shares' in a 1990 will of his uncle, John T Cronin who died some 23 years later in 2013, aged in his nineties.
Mr O'Connell, who inherited his uncle's farm, remains entitled to the estimated €272,438 value of those Kerry Co-op shares but not to the Kerry Group shares.
In her judgment on Friday, Ms Justice Nuala Butler noted Mr Cronin, born in 1921, was one of 12 siblings reared on a small farm in Ballahantouragh, near Scartaglin.
He left school as a teenager and began farming, later inheriting the 38 acre family farm from his parents. He never married but was an integral part of a large extended family.