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Irish Times
6 days ago
- Business
- Irish Times
Magnier's Coolmore group branded ‘professional bullies' by rival in bitter Barne Estate row
A woman whose husband is being sued by John Magnier over the purported sale of a prized Co Tipperary estate said she felt €50,000 in cash delivered in two brown envelopes on behalf of the bloodstock billionaire was 'incredibly tainted and dirty', the High Court has heard. Anna Thomson-Moore told the court that on September 7th, 2023 – two weeks after an alleged €15 million handshake allegedly sealed the sale of Barne Estate – Mr Magnier called to Barne with his son, JP, and met the Thomson-Moores. She said they told Mr Magnier they had to work through tax issues and involve the trustees of the estate to complete any deal. Ms Thomson-Moore said that at the end of that conversation their estate agent, John Stokes, who had walked out with the Magniers, returned to the house with two brown envelopes given to him by JP containing €50,000 cash. She said she felt 'incredibly uncomfortable' about the envelopes and had the money returned days later. The Magnier side has told the court the money was a token of 'appreciation' to the Thomson-Moores for letting the Magnier side on to the land before any sale was finalised. READ MORE The Magnier side was ultimately dislodged by Irish-born, US-based construction magnate Maurice Regan, who offered €22.25 million and became the preferred bidder for the estate. Mr Regan is not a party to the case. Mr Magnier wants the court to enforce the deal he claims he sealed with Mr Thomson-Moore in an alleged handshake agreement for the 751 acres on August 22nd, 2023. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say was 'unequivocally' agreed. The Barne defendants say there was never any such agreement as they needed the consent of the trustees to finalise any deal. They say they preferred to sell the estate to Mr Regan. Mr Magnier claims there had been no mention of the sale being subject to trustee approval. At the High Court on Tuesday Ms Thomson-Moore – wife of defendant Richard Thomson-Moore – told Paul Gallagher, senior counsel for the Magniers, that the family was not deliberately 'stalling' on a deal with Mr Magnier because Mr Regan had outbid Mr Magnier. Barne and the Magniers entered into an exclusivity agreement stipulating that the estate would not permit itself or its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier between August 31st and September 30th, 2023. However, during September 2023, Ms Thomson-Moore said, Mr Regan offered about €20 million for the estate. She said the trustees recommended honouring the exclusivity agreement with Mr Magnier, making Ms Thomson-Moore increasingly frustrated with the trustees who refused to consider the new bid. Mr Gallagher asked why the Thomson-Moores did not tell the trustees of the brown envelopes until a month after the incident. An emotional Ms Thomson-Moore said she was 'incredibly uncomfortable' about the money and that it gave her a 'tainted and dirty' feeling. A portion of a text message from Mr Regan to Mr Thomson-Moore was read to the court by Mr Gallagher in which Mr Regan described the Magnier-led Coolmore side as 'professional bullies'. In the text, Mr Regan said the Thomson-Moores had not been through a fair process in dealing with Coolmore which, Mr Regan says, should not be the new owner of Barne Estate and if they were to take ownership that they should 'pay dearly for it'. 'You are dealing with professional bullies,' wrote Mr Regan to Mr Thomson-Moore, adding that the Coolmore side was engaged in 'intimidating' Mr Thomson-Moore. Ms Thomson-Moore said her husband did not reply to the message. The case continues.
Irish Times
19-06-2025
- Business
- Irish Times
Magnier case: Row breaks out in court over claims gallery members tried to communicate with witness
An argument broke out during a hearing in the High Court case taken by bloodstock billionaire John Magnier over a failed property deal for a Co Tipperary estate. On Thursday, the defence claimed a member, or members, of the public gallery were attempting to communicate with a witness under cross-examination by nodding to him on certain answers. The case centres on Mr Magnier's claim that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a 'full-frontal assault' on Mr Magnier's claimed deal to buy the 751-acre estate. Coolmore Stud founder Mr Magnier claims Barne Estate reneged on the alleged deal, preferring to sell at the higher price of €22.25 million to Mr Regan, founder of New York building firm JT Magen. READ MORE The Magniers say the deal was struck at Mr Magnier's Coolmore home on August 22nd, 2023. They also claim an exclusivity agreement in effect from August 31st to September 30th stipulated the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been 'unequivocally' agreed. Barne says there was never any such agreement as they needed the consent of the trustees to finalise any agreement and they subsequently preferred to sell to Mr Regan. Mr Regan is not a party to the case. The nodding in court claim was made on Thursday by Martin Hayden SC, for Barne Estate, while his colleague Niall F Buckley SC, was conducting the cross-examination of a financial manager at Coolmore, Tim Gleeson. Mr Gleeson was giving evidence on communications timelines, statements and meetings surrounding the failed deal. Mr Hayden apologised for interrupting the cross-examination and claimed that he had been informed by a note from his legal team that a member or members of the gallery had been nodding at the witness. Mr Hayden gestured towards the Magnier side and told Mr Justice Max Barrett that he was asking individuals 'on the Coolmore side to stop making head gestures' in relation to questions asked of Mr Gleeson. 'It has happened on four occasions now in relation to particular questions asked and head gestures are being made by certain individuals in the gallery,' said Mr Hayden. Mr Gleeson said he did not see any gestures and that he was following documents from the witness box and facing the judge when answering questions over his witness statement. Paul Gallagher SC, for the Coolmore side, said he did not accept the assertion made by Mr Hayden. About 10 minutes later, Mr Hayden rose again to tell the judge 'it is occurring again'. 'They are giving indications of what the answers should be – that's unacceptable'. Mr Gallagher said it was 'an outrageous statement to make – it's not true'. 'I know Mr Gallagher is all-powerful but I don't think he has eyes in the back of his head, I'm not sure he can see what is going on,' said Mr Hayden. Mr Justice Barrett asked all present to refrain from any nodding upon hearing responses given by the witness. Moments later, Mr Gallagher said a member of the defence's legal team was now staring at the gallery where the Coolmore side were sitting at the rear of the court, which he considered 'highly inappropriate'. Mr Hayden said it was appropriate the defence made sure the claimed behaviour did not happen again. Jerome Casey, a senior member of staff at Coolmore who fronts property deals for Mr Magnier, told Caren Geoghegan SC, for the Magniers, 'we are honourable people' who would not go back on an agreed deal. Mr Casey said the exclusivity agreement was put in place because contracts for the estate had not been issued immediately to Coolmore by the vendors' solicitors and that by late August he was made aware that Mr Regan was 'not happy' about the purported sale of the land to the Magniers. Mr Hayden asked Mr Casey if the main reason for the exclusivity agreement was Mr Regan's interest and was told 'very much so'. The case continues before Mr Justice Barrett.
Irish Times
05-06-2025
- Business
- Irish Times
Son of John Magnier says he handed over €50,000 in two envelopes as an ‘appreciation' to Barne Estate owners
A son of billionaire bloodstock magnate John Magnier has told the High Court he handed two 'brown' envelopes containing a total of €50,000 in cash to an estate agent involved in a failed €15 million property deal. JP Magnier said the envelopes were to be delivered to the beneficiaries of the Barne Estate as a showing of 'appreciation'. In other evidence on Thursday, a solicitor involved in the proposed conveyance of Barne Estate, Co Tipperary, which is the subject of the legal action by John Magnier who alleges the €15 million deal was reneged upon by the vendors, told the court an agreement was in place between the parties before an exclusivity document was signed. Joseph Fitzpatrick, of Smithwick Solicitiors, told counsel for the Barne Estate he secured an exclusivity agreement signed by both sides to run from August 31st to September 22nd, 2023, after hands were allegedly shaken on a deal. READ MORE Lawyers for Mr Magnier, founder of Coolmore Stud, have argued that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a 'full-frontal assault' on Mr Magnier's claimed deal to buy the 751-acre estate. Mr Magnier's proceedings claim the Barne Estate owners reneged on the alleged deal, preferring to sell at the higher price of €22.25 million to Mr Regan, founder of the New York building firm JT Magen. Mr Magnier – along with his adult children – wants to enforce the alleged deal which they say was struck at an August 22nd, 2023, meeting at Mr Magnier's Coolmore home. They claim the exclusivity agreement would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. The Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been 'unequivocally' agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any agreement and subsequently they preferred to sell the estate to Mr Regan, who is not a party to the case. On Thursday, JP Magnier told Paul Gallagher SC, for the Magnier side, his father asked him to get €50,000 in cash on September 8th, 2023, and to put it into two envelopes to be given to the Thomson-Moores. He said the money was an 'appreciation' for letting the Magnier side on to the Barne land, for their loyalty in honouring the deal and because they were allegedly 'cash strapped'. JP Magnier said he put the money into two envelopes and gave it to the estate agent at Barne Estate for them to be passed on to the Thomson-Moores. On September 11th, 2023, he said the estate agent met JP Magnier and 'pushed' the envelopes in his direction, saying the Thomson-Moores were concerned their farm manager may have seen the original transaction. Niall F Buckley SC, for the Barne side, asked what colour the envelopes were and was told they were brown. Mr Buckley put to JP Magnier the envelopes were to keep the Thomson-Moores 'sweet', as John Magnier was concerned they were going to pull out of the deal. JP Magnier said his father never said that to him. 'I take it you didn't ask for a receipt?' asked Mr Buckley. 'No,' JP Magnier replied. 'Doesn't that say it all,' Mr Buckley said. 'Knowing what you did about my clients' family circumstances and the need for them to provide for their child and given the vast amount of land you have, did it ever occur to you to let this one go?' 'It wouldn't be my call,' said JP Magnier. Mr Fitzpatrick told Martin Hayden SC, for the Barne Estate, the exclusivity agreement was not to further any negotiation but to keep the 'status quo' of the alleged sale agreement in order to further the preparation and receipt of the contracts. 'Exclusivity was not for negotiations going forward but to facilitate the contract,' said Mr Fitzpatrick. He said Mr Magnier had deposited €15 million in the Smithwicks' client account before any purported contract was signed in order to 'show good faith'. However, he said that a week before the exclusivity agreement expired, the Thomson-Moores said they were taking tax advice. 'We invited them to a meeting and that was refused, then the extension of the exclusivity was refused. It was clear they had no intention of signing with us and were running down the clock,' said Mr Fitzpatrick. The case continues in two weeks' time before Mr Justice Max Barrett.
BreakingNews.ie
05-06-2025
- Business
- BreakingNews.ie
JP Magnier handed €50,000 in 'brown' envelopes to estate agent in land sale, court hears
The High Court has heard that billionaire bloodstock magnate John Magnier's son, JP, handed over two "brown" envelopes containing a total of €50,000 in cash to an estate agent involved in a failed €15 million property deal which were delivered to the beneficiaries of the estate as a show of "appreciation". The court also heard that a solicitor involved in the proposed conveyance of Barne Estate, Co Tipperary, the subject of a legal action by John Magnier - who alleges a €15 million deal was reneged upon by the vendors - has told the High Court that an agreement was in place between the parties before an exclusivity document was signed. Advertisement Joseph Fitzpatrick, of Smithwick Solicitors, was giving evidence in the hearing on Thursday and told counsel for the Barne Estate that he secured an exclusivity agreement signed by both sides to run from August 31st to September 22nd after hands were allegedly shaken on the deal. Lawyers acting for Mr Magnier, founder of the world-famous Coolmore Stud, have claimed before the High Court that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a "full-frontal assault" on Mr Magnier's claimed deal to buy the 751-acre tract. Mr Magnier's proceedings claim that Barne Estate reneged on the alleged deal, preferring to sell the land at the higher price of €22.25 million to Mr Regan, the founder of the New York building firm JT Magen. Mr Magnier – along with his adult children - wants to enforce the alleged deal. Advertisement The Magnier side says the deal was struck at an August 22, 2023, kitchen meeting at Mr Magnier's Coolmore home. They also claim an exclusivity agreement that was in effect from August 31 to September 30 stipulated that the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been "unequivocally" agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any agreement, and subsequently they preferred to sell the estate to Mr Regan. Advertisement Mr Regan is not a party to the case. Mr Magnier's son, JP, told Paul Gallagher SC, for the Magnier side, that his father asked him to get €50,000 in cash on September 8, 2023, and to put it into two envelopes to be given to the Thomson-Moores. He said the money was an "appreciation" for letting the Magnier side onto the Barne land, for their loyalty in honouring the deal and because they were allegedly "cash strapped". JP Magnier said he put the money into two envelopes and gave it to the estate agent at Barne Estate for them to be passed on to the Thomson-Moores. Advertisement On September 11, 2023, however, he said the estate agent met with JP Magnier and "pushed" the envelopes in his direction, saying that the Thomson-Moores were concerned that their farm manager may have seen the original transaction. Niall F Buckley SC, for the Barne side, asked what colour the envelopes were and was told by JP Magnier that they were brown. Mr Buckley put it to JP Magnier that the envelopes were to keep the Thomson-Moores "sweet", as John Magnier was concerned they were going to pull out of the deal. JP Magnier said his father never said that to him. "I take it you didn't ask for a receipt?" asked Mr Buckley. JP Magnier replied: "No." Advertisement "Doesn't that say it all," remarked Mr Buckley. "Knowing what you did about my clients' family circumstances and the need for them to provide for their child and given the vast amount of land you have, did it ever occur to you to let this one go?" "It wouldn't be my call," said JP Magnier. Mr Fitzpatrick told Martin Hayden SC, for the Barne Estate, that the exclusivity agreement was not to further any negotiation but to keep the "status quo" of the alleged sale agreement in order to further the preparation and receipt of the contracts. "Exclusivity was not for negotiations going forward but to facilitate the contract," said Mr Fitzpatrick. Ireland Supreme Court decision on compensation over power... Read More Mr Fitzpatrick said Mr Magnier had deposited €15 million in the Smithwicks' client account before any purported contract was signed in order to "show good faith". However, a week before the exclusivity agreement expired, the Thomson-Moores said they were taking tax advice, he said. "We invited them to a meeting and that was refused, then the extension of the exclusivity was refused. It was clear they had no intention of signing with us and were running down the clock," said Mr Fitzpatrick. The case continues in two weeks' time before Mr Justice Max Barrett.
BreakingNews.ie
29-05-2025
- Business
- BreakingNews.ie
Billionaire Magnier claims his name being 'slaughtered' in court
Bloodstock billionaire John Magnier has complained of his alleged unfair treatment as he faces cross examination over a failed €15 million land deal in the High Court. The founder of the world famous Coolmore Stud at the start of Thursday's hearing asked the judge's permission to address the court. Advertisement He said he thought he was being "treated unfairly" Wednesday, by the opposing senior counsel for Barne Estate Martin Hayden SC during cross examination. He claimed counsel "unfairly went after" his good name and Mr Magnier declared he came to court for "protection, not to be slaughtered". Lawyers acting for Mr Magnier have claimed before the High Court that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a "full-frontal assault" on Mr Magnier's claimed deal to buy 751 acres of land in Tipperary for €15 million. Mr Magnier's proceedings claim that Barne Estate reneged on the alleged deal, preferring to sell the land at the higher price of €22.25 million to Mr Regan, the founder of the New York building firm JT Magen. Advertisement Mr Magnier – along with his adult children, John Paul Magnier and Kate Wachman - wants to enforce the alleged deal. They say the deal was struck at an August 22nd, 2023, kitchen meeting at Mr Magnier's Coolmore home. They also claim an exclusivity agreement that was in effect from August 31t to September 30th stipulated that the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. Advertisement The Magnier side have sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been "unequivocally" agreed. The Barne defendants say there was never any such agreement and subsequently they preferred to sell the estate to Mr Regan. Mr Regan is not a party to the case. At the High Court on Thursday , Mr Magnier repeatedly told the court that when it came to legal and financially detailed matters that he hired experts who would decide and report on the progression of land deals for him. Advertisement Mr Magnier said "I don't think you believe me - I am not a solicitor" to Mr Hayden and said that he was answering the same questions "again and again and when I answer you look out the window". Mr Hayden said he was being "polite" to Mr Magnier in letting him finish his answers but that after any "rambling" by the plaintiff he would still be asked to specifically address the question originally asked. Mr Magnier told Mr Hayden that while he was "smarter than me" he was not going to allow Mr Hayden to put "your words in my mouth, I am not going to do that". Mr Magnier claims that on the night the Thomson-Moores went to another room in Coolmore to ring the trustees of Barne to get the go-ahead on the deal and returned with the permissions needed. Advertisement Mr Hayden said that phone records show that neither the Thomson-Moores nor estate agent John Stokes, also present at the meeting, made any contact with the trustees. "You had to come up with another story which was that they said they were calling them," said Mr Hayden. "They did say they were going to call. I have not changed my story at all. It's unfair to say so. It's untrue," said Mr Magnier. "I shook hands with the three people who were there," he said, adding "my word is my bond". Mr Magnier said that it was his suggestion to present a "no strings attached €50K" in two envelopes on September 7th, 2023, to Mr Stokes who gave it to the Thomson-Moores because the family were allowing Mr Magnier's people onto the land, were resisting bids and claimed that Mr Stokes had told him the family were "strapped for cash" Mr Hayden said that it will be Mr Stokes' evidence that he never said the family were strapped for cash. However, the money was returned to the Magniers days later and Mr Magnier told the court that it was his estimation that this was a signal that the family had now changed their minds and were going with the higher bid. The case continues before Mr Justice Max Barrett.
