Coolmore Bullying Dispute: Barne Estate Row
Magnier Lawsuit Over Barne estate: Allegations of “Professional Bullies” and “Brown Envelopes” Emerge in Court
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Dublin High Court hears dispute over 751-acre estate sale,wiht accusations of intimidation and a rejected cash offer.
A legal battle over the sale of the prestigious Barne Estate has intensified in the Dublin High Court, with allegations of “professional bullies” and a controversial cash offer surfacing. The case pits the Magnier family, associated with the renowned Coolmore Stud, against the Barne Estate and its representatives, Mr.and Ms. Thomson-Moore.
The Core Dispute: A Handshake Deal or Trustee Approval?
At the heart of the litigation is a claim by the Magnier side that a deal was struck for the 751-acre estate on August 22nd, 2023, through an alleged handshake agreement with Mr. Thomson-Moore. They are seeking to enforce this purported deal, which they assert was “unequivocally” agreed upon. The Magnier side has sued the Barne Estate, Mr.thomson-moore, and three companies of the IQEQ (Jersey) Ltd group to compel the sale.
Though, the Barne defendants contend that no such agreement was ever finalized, as any sale woudl have required the consent of the trustees. They maintain that their preference was to sell the estate to Maurice Regan, an Irish-born, US-based construction magnate who ultimately became the preferred bidder with an offer of €22.25 million. Mr. Regan is not a party to the current legal proceedings.
The Magnier side disputes the necessity of trustee approval, claiming it was never mentioned as a condition for the sale.
“Brown Envelopes” and “Tainted” Feelings
During Tuesday’s High Court proceedings,Ms. Thomson-Moore, wife of defendant Richard Thomson-Moore, addressed senior counsel for the Magniers, Paul Gallagher. She denied that the family was deliberately delaying a deal with Mr. Magnier because Mr. Regan had outbid him.
Mr. Gallagher questioned why the Thomson-Moores did not disclose the incident involving “brown envelopes” containing money to the trustees until a month after it occurred. An emotional Ms.Thomson-Moore explained her discomfort, stating she felt “incredibly uncomfortable” about the money, describing it as giving her a “tainted and dirty” feeling. The money was subsequently returned days later.
The Magnier side has presented the money as a token of “recognition” to the Thomson-Moores for allowing them access to the land before a sale was finalized.
Accusations of Intimidation: ”Professional Bullies”
Further complicating the case, a portion of a text message from Maurice Regan to Mr. Thomson-Moore was read to the court by Mr. Gallagher. In the message, Regan described the Magnier-led Coolmore side as “professional bullies.” He alleged that the Thomson-moores had not experienced a fair process in their dealings with Coolmore and that if they where to acquire the Barne Estate, they should “pay dearly for it.”
“You are dealing with professional bullies,” Regan wrote, adding that the Coolmore side was engaged in “intimidating” Mr. Thomson-Moore. Ms. Thomson-Moore confirmed that her husband did not respond to this message.
Exclusivity Agreement and Shifting Bids
The court also heard about an exclusivity agreement entered into by Barne and the Magniers. This agreement stipulated that between August 31st and September 30th, 2023, the estate would not solicit or encourage any interest or offers from parties other than Mr. Magnier.
Though, Ms. Thomson-Moore testified that during September 2023, Mr. Regan submitted an offer of approximately €20 million for the estate. She revealed that the trustees had recommended honoring the exclusivity agreement with Mr. Magnier, which led to her growing frustration with the trustees for refusing to consider Regan’s revised bid.
The case is ongoing, with further revelations expected as the legal proceedings continue.