IRISH developer Patrick McKillen yesterday lost his appeal in a long-running legal battle against the billionaire Barclay Brothers over control of three of London’s most famous hotels.
The Court of Appeal threw out McKillen’s attempt to overturn a High Court ruling made in August last year, and said the Barclay family “have always acted entirely lawfully” in relation to the £1bn Maybourne Hotel Group.
McKillen had sued Sir Frederick and Sir David Barclay, the owners of the Ritz hotel, over their attempts to gain control of Coroin, the vehicle that owns Maybourne which in turn owns Claridge’s, the Connaught and the Berkeley.
The Barclays first acquired a 28.4 per cent in Coroin in 2011 before buying up fellow Irish investor Derek Quinlan’s debt – held by Ireland’s bad bank NAMA – giving them effective control of the group.
McKillen, who owns the remaining 36.2 per cent stake, claimed he should have had the right to buy Quinlan’s shares.
He will now have to pay Quinlan and the Barclays’ around £18.7m costs in respect of the appeal, and the High Court proceedings.