Business World

Monday 27 January 2020

Court rules out bid to keep details of finances private

DEVELOPER Paddy McKillen has failed in an attempt to have part of his legal action against the Barclay brothers held behind closed doors and details of his finances kept private.

A High Court judge in London yesterday dismissed the privacy application by the Belfast-born developer, saying that it was better the matters be held in public.

Mr McKillen wanted to ensure that some of his financial details not be revealed to the Barclays, or others involved in the case, as he claimed this could work towards undermining his financial position.

In addition, he wanted part of the proceedings for the rest of the lengthy hearing to be held in private and without the press present -- a bid objected to by a number of media organisations, including the Irish Independent.

However, Judge David Richards dismissed the attempt saying there was no grounds to suggest that parties who had done business with him in the past would not do so in the future -- one of Mr McKillen's claims.

"Fears expressed are at best no more than that," the judge said.

On the issue of parts of the case being heard in private, the judge said the balance came down on it being heard in public and that there was a basic requirement for open justice.

Referencing an action taken by Mr McKillen against NAMA in the High Court in Dublin, the judge said details of a €111m loan he had taken out from Anglo Irish Bank had emerged during that case.

shane hickey

Irish Independent

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