Thursday 21 September 2017

McKillen: Timeline of court battles to save his business empire

2010

September: McKillen takes a High Court action in Dublin in an effort to prevent the transfer of his companies' loans to NAMA. The case fails.

2011

February: McKillen appeals the decision to the Supreme Court and wins. All seven judges find the NAMA decision to acquire his loans invalid.

April: McKillen wins costs in Supreme Court and NAMA decides not to acquire his loans.

September: NAMA sells loans relating to Coroin – the company behind Claridge's, the Berkeley and Connaught hotels – to the Barclay interests for €800m.

October: McKillen issues legal proceedings in the High Court in London to block the Barclays' efforts to win control of Coroin.

2012

March-June: The High Court hearing takes place in London.

August: McKillen's case fails and then he applies to the Court of Appeal for leave to appeal.

October: Court of Appeal grants McKillen permission to appeal the High Court decision on all grounds.

December: McKillen fully subscribes to Maybourne London hotels rights issue to protect his 37pc shareholding.

2013

February: Court of Appeal hearing of McKillen v Barclay case.

July: McKillen loses appeal over control of hotels.

September: IBRC rejects €133m cash bid for the Jervis Centre, co-owned by McKillen.

Days later, McKillen secures permission from the High Court to sue the IBRC and the Barclay brothers.

Irish Independent

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