A disagreement has arisen between billionaire racehorse owner John Magnier and his family, and the proprietors of a 751-acre estate in County Tipperary, which the Magnier family alleges they had arranged to purchase. This case will be adjudicated in commercial court come spring.
Justice Denis McDonald has scheduled the 4th of March for the case hearing in regards to the Barne Estate, situated near Clonmel. It has been estimated that the case will take a fortnight to resolve.
In court, it was also disclosed that disputes surrounding the production of essential documents for the lawsuit have slightly lessened over the previous week. It is hoped that by the following October, all related issues will be completely resolved. If not, an additional hearing may be held in October to address any remaining discovery issues.
Previously, the Magnier family had expressed concerns over the Barne’s attempts to restrict the range of discovery. These assertions were refuted by the Barne side.
The lawsuit has arisen from a claim made by Mr Magnier and his children, John Paul Magnier and Kate Wachman, who assert that they had made a deal with the Barne owners to purchase the Golden Vale estate for €15 million. The estate is controlled by a Jersey trust benefitting Richard Thomson-Moore, his sister Alexandra, their offspring and their partners.
The Magnier family has initiated legal action against the Barne Estate, Mr. Thomson-Moore and three companies of IQEQ (Jersey) Ltd, demanding the completion of a €15 million deal agreed upon on the 22nd of last August, according to them.
The Barne defendants counter that no such agreement was ever reached and that they had instead agreed to sell the estate for €22.5 million to building tycoon Maurice Regan, founder of New York construction firm JT Magen.
There has also been a counterclaim lodged alleging slander of title, which contends that the proceedings initiated by the Magnier family and submission of a legal uncertainty about transactions in the property, known as a lis pendens, is hindering the owners’ ability to sell the property to Mr Regan.
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