Escalating dispute over Barne Estate leads to chaos, as high court hears legal threats from competing parties, according to the auctioneer.
In the heart of Ireland, a legal battle is unfolding over the Barne Estate, a property that has been in the Thomson-Moore family for generations. The estate, held in trust, has been the centre of a contentious dispute between John Magnier and Maurice Regan, two influential figures in the world of horse racing and construction respectively.
John Magnier, a renowned Irish racehorse breeder, claimed to have made a handshake deal worth €15 million with Richard Thomson-Moore, a beneficiary of the trust, on August 22nd, 2023. However, the estate's trustees preferred an offer of €22.25 million from Maurice Regan, an Irish-born US-based construction magnate.
Magnier is now suing the Barne Estate trustees, Richard Thomson-Moore, and associated companies to enforce the alleged agreement. The case is ongoing before Mr. Justice Max Barrett, with the defendants arguing that no binding agreement with Magnier existed since trustee consent was required, and they preferred the sale to Regan.
Auctioneer John Stokes, who was involved in the initial negotiations, did not breach the exclusivity agreement regarding the offer and did not know how Regan became aware of the accepted Magnier offer being €15 million. Stokes delivered €50,000, intended for Thomson-Moore and his sister, Alexandra, in two brown envelopes on September 7th, 2023. However, the money was returned a few days later, and Stokes denies saying to John Magnier on the night that they had a "deal" after allegedly being in phone contact with the trustees for their approval after the €15 million offer.
Stokes claims he told Magnier that the "deal" was subject to the trustees' approval. Despite the stalled transaction, Stokes was not a party to the lawsuit, and there is no public indication that he played a significant role in the legal dispute.
The row over the estate has been described by Alexandra Thomson-Moore as a "full-on war" and a "Sunday night TV drama". Regan, who was made the preferred bidder, offered €22.25 million, leading to the expiration of the exclusivity agreement by the end of September due to an increased offer of €20 million from him.
John Magnier stated that the €50,000 was apart from the deal, was for access to the land, and that the Thomson-Moores were still welcome to it. Regan, who is not a party to the case, has not commented publicly on the matter.
The legal dispute continues, with Magnier suing Richard Thomson-Moore and Barne Estate Ltd over the collapse of the purchase. The case is expected to continue before Mr. Justice Max Barrett.
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- The legal battle over the Barne Estate has attracted interest from influential figures in various industries, including John Magnier, a prominent figure in the finance sector through his racehorse breeding business, and Maurice Regan, a construction magnate based in the US.
- Amidst the contentious dispute, John Magnier's €15 million offer for the Barne Estate was controversially surpassed by an increased offer of €20 million from Maurice Regan, demonstrating the intense competition in the business world.
