Sunday 22 April 2018

Ronald Quinlan: Shy developer McKillen battles Barclays in court

Investor is seeking to reverse Nama's €790m sale of the Maybourne Hotel Group loans, writes Ronald Quinlan

'I'M not sure I understand the concept of a binding gentlemen's agreement. I thought that was the distinction that the term 'gentlemen's' introduced."

Those were the charming terms employed by Edmund Nourse, counsel for the billionaire Barclay brothers, in a recent pre-trial hearing for Paddy McKillen's bid to reverse Nama's sale of €790m in loans associated with the Maybourne Hotel Group to them.

The Belfast-born property investor's much anticipated legal challenge to the decision by the State's so-called 'bad bank' to sell the Maybourne debt to the Barclays gets under way at the Royal Courts of Justice in London tomorrow.

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