Sunday 4 December 2016

McKillen has 'no problem' telling court of finances

Published 06/03/2012 | 05:00

PADDY McKillen has "absolutely no problem" disclosing details of his finances to the London courts and is confident he can prove his ability to buy the rest of a prestigious London hotel group, sources close to the Irish investor said last night.

  • Go To

The comments came after the Barclay brothers, Freddie and David, who are battling to take control of the Maybourne Hotel Group, won judgment compelling Mr McKillen to disclose extensive details of his finances to the courts.

"He has no problem with that at all, since the courts have promised to keep those details confidential," sources close to the media-shy Irishman said last night.

Firepower

The source added that Mr McKillen had bolstered his finances by recent sales of property in Oxford Street and in Paris.

"He has the financial firepower," the source said.

"All he wants is the opportunity to prove it."

The London case over the control of Maybourne is due back in court on March 19. Jervis Shopping Centre owner Mr McKillen is protesting the sale of some £660m (€792m) of Maybourne's debt from the National Asset Management Agency (NAMA) to the Barclays.

Mr McKillen argues that he is legally entitled to first refusal on any stake in the Maybourne Group, and claimed that the sale of the debt to the Barclays was a breach of that right.

He also claims Nama should not have been able to sell to the Barclays since the brothers' company is not a financial institution.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business