Tipperary Estate Dispute: Deleted Texts Reveal ‘Full On War’ Over €22m
Legal Battle Erupts Over €15M Estate Deal: Magnier Claims Handshake Agreement, Barne Estate Cites Trustee Consent
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A high-stakes legal dispute is unfolding in the courts as mr. John Magnier alleges a binding €15 million handshake agreement for the historic Barne Estate,a claim vehemently denied by the estate’s representatives who insist no final deal was struck without trustee approval.
The Alleged agreement and the €15 Million Offer
The Barne Estate, a sprawling 751-acre property with a rich history of ownership by the thomson-moore family, is at the center of a contentious legal battle. Mr.John Magnier is seeking court enforcement of a purported €15 million deal, wich he claims was sealed with Mr. Thomson-Moore on August 22,2023,at Mr. Magnier’s coolmore home. The Magnier side has initiated legal proceedings against the Barne Estate, Mr. Thomson-Moore, and three trustee companies of the IQEQ (Jersey) Ltd group, asserting that the agreement was “unequivocally” reached.
However, the Barne defendants maintain that no such agreement was ever finalized, emphasizing the crucial requirement for trustee consent to validate any sale. Mr. Thomson-Moore himself has informed the court that while a price of €15 million was discussed and agreed upon with Mr. Magnier, a definitive “deal” was not concluded.
Exclusivity Period and the Rise of a Higher Offer
Following the agreement on the €15 million figure, Barne and the Magniers entered into an exclusivity agreement. this pact stipulated that between August 31 and september 30, 2023, Barne and its representatives would refrain from soliciting or encouraging any interest, inquiry, or offer for the property from parties other than Mr. Magnier.
Initially, the trustees, who hold the estate, expressed loyalty to the magnier offer. they viewed a subsequent, higher offer from Mr. Regan as possibly “provocative.” However, once the exclusivity period concluded, the trustees made the decision to proceed with Mr. Regan’s offer.
Ultimately, Mr.Magnier’s bid was surpassed by a significantly higher offer of €22.25 million from US-based Mr. Regan, who was then designated as the preferred bidder. It is indeed vital to note that Mr. Regan is not a party to the current legal proceedings.
Deleted Messages and Allegations of Influence
The court proceedings have also delved into the conduct of Ms. McCullough,a representative of the Barne Estate. Caren Geoghegan SC, representing the Magnier side, questioned Ms. McCullough regarding a deleted message. Ms. Geoghegan suggested that the message was deleted out of fear that disparaging comments about Mr.Regan might surface, especially if the trustees were to consider Mr. Regan’s higher offer, as later requested by the family.
Furthermore, Ms. Geoghegan put it to Ms. McCullough that the message was deleted after a €50,000 cash gift from Mr. Magnier, presented to Anna and Richard Thomson-Moore in brown envelopes, was returned to Coolmore on September 11, 2023.
ms. McCullough testified that her initial reaction to the €50,000 offer, conveyed in a text to Mr. stokes, was “sounds good.” She explained that she initially perceived it as a ”goodwill blessing gesture that happens in Irish business” and believed it to be ”above board.” However,as time progressed and the money was returned,Ms. McCullough stated she became “uncomfortable” with the cash offer.
Ms.Geoghegan countered that the deleted message was removed as it was “critical” of Mr.Regan and praised Mr.Magnier’s “decent” behavior.ms. McCullough described the message as “hot” and one she was “uncomfortable with.” She clarified that she was discarding a message in which she had been “lippy about someone I didn’t know” and that her actions were “not as intentional as you [ms. Geoghegan] are inferring.” She confirmed this was the only message she deleted between August and October 2023.
“I felt I was very rude about Mr Regan,” Ms. McCullough stated, drawing a parallel to individuals in her own profession who possess “so much money,” are “stirring” situations, and “making up lies,” with whom she chooses not to engage.
The case continues to be heard by Mr. Justice Max Barrett.