Wednesday 18 October 2017

McKillen loses latest stage of battle with Barclay brothers

Developer Paddy McKillen
Developer Paddy McKillen

Brian Farmer

A PROPERTY developer has lost the latest stage of a legal fight with two of the UK's best-known businessmen over control of a £1 billion company that owns three of London's most famous hotels.

Patrick McKillen, who comes from Belfast but is based in Dublin, lost the opening round of his battle with twins David and Sir Frederick Barclay in the High Court last year.

And the Court of Appeal refused to overturn the High Court's decision today.

Judges heard that Mr McKillen and the Barclay brothers were investors in Coroin, the company that owns and manages Claridge's, the Connaught and the Berkeley hotels.

Mr McKillen claimed that company affairs were conducted in a ''manner unfairly prejudicial to his interests''.

The Barclay brothers disputed the claims and said Mr McKillen's allegations were designed to tarnish their reputations and embarrass them.

A High Court judge ruled against Mr McKillen last August following a trial in London.

Mr Justice David Richards also said he should pay all sides' legal costs, which lawyers said would add up to about £20 million.

But in February Mr McKillen's lawyers asked the Court of Appeal to overturn parts of the ruling.

Three appeal judges - Lady Justice Arden, Lord Justice Moore-Bick and Lord Justice Rimer - handed down their ruling at a hearing in London today and dismissed Mr McKillen's challenge.

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