Latest news with #Magnier
Agriland
10-06-2025
- General
- Agriland
Coolmore plans to demolish Parkville farm buildings stalled
By Gordon Deegan Contentious plans to demolish JP Magnier-owned derelict farm buildings at Parkville near Clonmel in Co. Tipperary have been stalled. This follows Dr. Alan Moore of the Save Parkville Farm Group lodging an appeal with An Bord Pleanála against the Tipperary County Council's grant of planning permission. JP Magnier is the son of well known stud owner John Magnier, and in March 2024 the Magniers' Coolmore is reported to have paid €2.425 million, or almost €38,000/ac for the 64ac farm at Parkville – the lands had a guide price of €1.28 million. The council granted planning permission to the Coolmore-linked Melclon UC for the demolition of existing derelict buildings at Parkville together with all associated site development works, despite local opposition which included a farm-gate demonstration on October 3 last at the site. In the appeal, Dr. Alan Moore contended that the permission conflicts in its entirety with the aims and recommendations of Tipperary County Council plan policy in relation to vernacular farm buildings. In his original objection, Dr. Moore stated that 'We have lost far too many similar structures both in Tipperary and nationally. There is no excuse for making the same mistake again.' The Moore appeal includes a personal letter that under-bidder to the Parkville property, John Hurley, sent to the Magnier family last October. Hurley was runner up to Coolmore in the bidding for the property at auction last year and in his letter, Hurley said that himself and his late father had been stewards to Parkville for nearly 50 years where they rented the property. Farm buildings Hurley said: 'Parkville was more than just a farm to us: it was a legacy, a responsibility and a testament to the enduring bond between man and land. We poured our hearts and souls into it, ensuring its beauty and history remained intact. Melclon lodged its plans on September 18 last, and in his letter dated October 8, Hurley said that 'this letter is written with a heavy heart with both sorrow and a deep sense of injustice'. Hurley said to the Magnier family that it is crucial to address the recent peaceful protest that took place outside the gates of Parkville. Hurley followed up his letter to the Magnier family with a formal objection to the planning application. A notice placed on the gate at the site by the applicants stated that the 'these lands contain a derelict yard of rubble stone construction. After decades of serious neglect, it is heavily overgrown and crumbling and is now a serious health and safety concern'. The notice states that 'the owner has applied for demolition on health and safety grounds'.
Irish Independent
05-06-2025
- Business
- Irish Independent
JP Magnier handed €50k in brown' envelopes to estate agent in Tipperary land sale, High Court hears
The High Court has heard that billionaire bloodstock magnate John Magnier's son, JP, handed over two "brown" envelopes containing a total of €50K in cash to an estate agent involved in a failed €15m property deal which were delivered to the beneficiaries of the estate as a show of "appreciation". The court also heard that a solicitor involved in the proposed conveyance of Barne Estate, Co Tipperary, the subject of a legal action by John Magnier - who alleges a €15m deal was reneged upon by the vendors - has told the High Court that an agreement was in place between the parties before an exclusivity document was signed. Joseph Fitzpatrick, of Smithwick Solicitors, was giving evidence in the hearing today and told counsel for the Barne Estate that he secured an exclusivity agreement signed by both sides to run from August 31 to September 22 after hands were allegedly shaken on the deal. Lawyers acting for Mr Magnier, founder of the world-famous Coolmore Stud, have claimed before the High Court that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a "full-frontal assault" on Mr Magnier's claimed deal to buy the 751-acre tract. Mr Magnier's proceedings claim that Barne Estate reneged on the alleged deal, preferring to sell the land at the higher price of €22.25m to Mr Regan, the founder of the New York building firm JT Magen. Mr Magnier – along with his adult children - wants to enforce the alleged deal. The Magnier side says the deal was struck at an August 22, 2023, kitchen meeting at Mr Magnier's Coolmore home. They also claim an exclusivity agreement that was in effect from August 31 to September 30 stipulated that the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been "unequivocally" agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any agreement and subsequently they preferred to sell the estate to Mr Regan. Mr Regan is not a party to the case. Mr Magnier's son, JP, told Paul Gallagher SC, for the Magnier side, that his father asked him to get €50k in cash on September 8, 2023, and to put it into two envelopes to be given to the Thomson-Moores. He said the money was an "appreciation" for letting the Magnier side onto the Barne land, for their loyalty in honouring the deal and because they were allegedly "cash strapped". JP Magnier said he put the money into two envelopes and gave it to the estate agent at Barne Estate for them to be passed on to the Thomson-Moores. On September 11, 2023, however, he said the estate agent met with JP Magnier and "pushed" the envelopes in his direction, saying that the Thomson-Moores were concerned that their farm manager may have seen the original transaction. Niall F Buckley SC, for the Barne side, asked what colour the envelopes were and was told by JP Magnier that they were brown. Mr Buckley put it to JP Magnier that the envelopes were to keep the Thomson-Moores "sweet", as John Magnier was concerned they were going to pull out of the deal. JP Magnier said his father never said that to him. "I take it you didn't ask for a receipt?" asked Mr Buckley. JP Magnier replied: "No." "Doesn't that say it all," remarked Mr Buckley. "Knowing what you did about my clients' family circumstances and the need for them to provide for their child and given the vast amount of land you have, did it ever occur to you to let this one go?" "It wouldn't be my call," said JP Magnier. Mr Fitzpatrick told Martin Hayden SC, for the Barne Estate, that the exclusivity agreement was not to further any negotiation but to keep the "status quo" of the alleged sale agreement in order to further the preparation and receipt of the contracts. "Exclusivity was not for negotiations going forward but to facilitate the contract," said Mr Fitzpatrick. Mr Fitzpatrick said Mr Magnier had deposited €15M in the Smithwicks' client account before any purported contract was signed in order to "show good faith". However, a week before the exclusivity agreement expired, the Thomson-Moores said they were taking tax advice, he said. "We invited them to a meeting and that was refused, then the extension of the exclusivity was refused. It was clear they had no intention of signing with us and were running down the clock," said Mr Fitzpatrick. The case continues in two weeks' time before Mr Justice Max Barrett.
The Journal
04-06-2025
- Business
- The Journal
Son-in-law of billionaire John Magnier denies engaging in 'ruse' in bidding on Tipperary farm
BLOODSTOCK BILLIONAIRE JOHN Magnier's son-in-law has denied engaging in a 'ruse' by using third parties to bid on a Tipperary farm before allegedly 'low-balling' the vendors with a €10 million offer. At the High Court today, Magnier's son-in-law David Wachman said it was 'common practice' to start bidding at a level lower than the vendor's valuation for any property and that price expectations had to be 'controlled'. Lawyers acting for Magnier, founder of the world-famous Coolmore Stud, have claimed that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a 'full-frontal assault' on Magnier's claimed deal to buy the 751-acre tract. Magnier's proceedings claim that Barne Estate reneged on the alleged deal, preferring to sell the land at the higher price of €22.25m to Regan, the founder of the New York building firm JT Magen. Magnier – along with his adult children – wants to enforce the alleged deal. They say the deal was struck at a 22 August 2023 kitchen meeting at Magnier's Coolmore home. They also claim an exclusivity agreement that was in effect from 31 August to 30 September stipulated that the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been 'unequivocally' agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any agreement and subsequently they preferred to sell the estate to Regan. Regan is not a party to the case. Paul Gallagher SC, for the Magnier side, was told by Wachman that Regan 'was always of the opinion that we shouldn't bid against each other', as this would generally mean the two strongest bidders, in this case Mr Magnier and Mr Regan, would increase land prices in Tipperary. Advertisement Wachman told Niall F Buckley SC, for the Barne Estate, that Coolmore were interested in Barne and by July 2023 co-ordinated a bid of €10.5m through a third party acting on behalf of a 'wealthy UK investor'. They did not inform the Thomson-Moores, who sought €13.5m for the estate, of Coolmore's involvement. Another third party who did not disclose to the vendor that Coolmore was also using him had earlier pulled out of bidding and when both third parties withdrew 'it left Coolmore as the only one left on the pitch', Wachman said. Wachman confirmed that the third parties were already known to the Barne Estate. Buckley said this strategy amounted to a 'ruse' and a 'backstory' by Coolmore regarding their interest in the property, which was not on the open market. Buckley said not long after the first bid, Coolmore submitted a bid of €10m in what was, he alleged, a 'deceptively low bid'. Wachman said the strategy was engaged to 'control expectations' on the value of the estate. Wachman said information on the third-party bids reaching the Coolmore side from the estate agent showed the agent to be trustworthy. 'We then knew the agent was telling the truth,' said Mr Wachman. 'You may have a rationale but the vendors were the casualties in that,' said Buckley. Counsel further suggested that Coolmore were using people known to the Barne Estate to 'advance veiled inquiries'. Buckley said that Regan will dispute the claim that he wanted to suppress land prices in the area and that his eventual bid of €22.5m was inconsistent with this claim. Wachman told counsel that it was inconsistent with the land-price suppression claim because Regan 'had a bee in his bonnet' after learning of the alleged agreement between Barne and the Magnier side. Buckley said the 'low-ball' offers from the Magnier side were more consistent with price suppression. Wachman said it was 'common practice' to start at a lower price and added that the eventual bid from the Magnier side was €15m. The hearing continues before Justice Max Barrett. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Extra.ie
31-05-2025
- Business
- Extra.ie
John Magnier's wife: €15m deal was sealed over drinks...then we all had dinner together
The wife of billionaire John Magnier has told the High Court about the meeting she and her husband hosted at Coolmore Stud, in a bid to seal a deal for a neighbouring farm. Susan Magnier, 71, the daughter of legendary Irish trainer Vincent O'Brien said she had asked her staff to ensure there was dinner available for Barne Estate owners Richard Thomson-Moore and his wife Anna. The court heard how the couple were welcomed at the front door at around 8pm on August 22, 2023, and were shown into the open-plan kitchen-dining area, where the meeting was held around the long kitchen table, which can seat 16. John Magnier. Pic: Collins Courts Ms Magnier sat at one end of the table, while her husband was seated at the other, with selling agent John Stokes and farm manager Joe Holohan to one side, and the Thomson-Moores to the other. A member of staff served drinks, while another was ready to serve food if required, she said. Giving evidence by videolink, Ms Magnier said Mr Stokes had been told by her husband that the Thomson-Moores should come to Coolmore only if they wanted to do a deal to sell the 751-acre Tipperary property. Susan Magnier. Pic: OLIVIER LABAN-MATTEI/AFP via Getty Images The Magniers were preparing to travel to Brussels the following day, to watch their grandchildren compete in a show-jumping competition. 'My husband John would have told me that's what the hope was, that he could do a deal that night,' she said. Earlier yesterday, Mr Magnier, 77, had explained: 'I wasn't going to leave a bid of €15million on the table while I went off show-jumping with the grandchildren. Richard Thomson Moore and Anna Thomson Moore. Pic: Tom Honan 'That's the reason I went from €11.25million to €15million, so we would have absolute certainty, and that was the basis on which they came to the house.' Mr Magnier has sued Richard Thomson-Moore and the holding company of the Barne Estate shares, in a bid to secure the deal he contends was made to buy the land for €15million on August 22, 2023. Construction magnate Maurice Regan made a later bid of €22.5million for the farm, and the sale is on hold pending the outcome of the case. Ms Magnier said Anna Thomson-Moore made small talk, but 'never opened her mouth' about the land negotiations. She said the main business of the night was discussed between her husband and Mr Stokes. 'I know we finished up on €15million,' she said. After saying they were going to call the trustees and Mr Thomson-Moore's sister, she said Mr Stokes returned, closely followed by the Thomson-Moores. 'Mr Stokes came through the door first,' she said. 'He was very elated and said the deal was done. He was directly followed by the two Thomson-Moores, who were clearly delighted the deal was done,' she said. 'Everybody was happy. We all shook hands… I asked them would they stay for dinner, and they said they would.' The conversation over dinner was 'light and light-hearted', she said. Farm manager Joe Holohan, who has worked for Mr Magnier for more than 35 years, confirmed he was also at the meeting, and was 'honoured' to be asked. 'To be there at a deal being done by Mr Magnier and that – it was going down in history,' Mr Holohan said. He said Mr Magnier had admired the farm for many years, and that they went to see it immediately after Mr Stokes confirmed it was on the market. He recalled overhearing a phone conversation in the car between Mr Regan and Mr Magnier's son-in-law, David Wachman, after Mr Regan learned of the Coolmore 'deal' for the farm. He said of Mr Regan: 'He was giving out a lot. He said he would give €5million more for it. He was well agitated, I assure you.' Yesterday morning, Mr Magnier told the court Mr Regan outbid him for land right beside Coolmore on a previous occasion. He said Mr Regan now lived next door to him, saying: 'I hope we are going to be good neighbours… He's right beside us. I can see him from the bedroom window.' Mr Magnier said he visited Mr Regan after issuing legal proceedings against the Thomson-Moores. Mr Regan is not a party to the action. Mr Magnier said he was legally precluded from revealing what was said. 'He gave me some information I am not allowed to use… I have information that would be beneficial for me to use, gained at that meeting. I have not used it. I would like if I could bring into the open what was said there.' Defence barrister Martin Hayden queried why Mr Magnier had not challenged the wording of an exclusivity agreement and a tillage agreement, which were drawn up following the meeting of August 22. Neither referred to a binding agreement having been made on that date but mentioned that discussions were to take place between both sides, counsel said. 'I knew what happened on the 22nd, because I did it myself. I did not do this [the documentation],' Mr Magnier replied. He remained adamant that no mention was made at the meeting of a need for the estate's trustees to approve any deal. The case continues next week.
Irish Examiner
30-05-2025
- Business
- Irish Examiner
Susan Magnier backs billionaire husband John over alleged €15m land deal that collapsed
Susan Magnier, the wife of billionaire John Magnier, has told the High Court of kitchen table negotiations which led to a €15m offer for a tract of land in Tipperary. Appearing by video link at the High Court Mrs Magnier said she was present when the vendors received their €15m offer. Mrs Magnier said the proposed vendors and an estate agent then moved to another room to ring the trustees and a beneficiary of Barne Estate before returning to the meeting. She told Caren Geoghegan SC, for the Magniers, that all parties afterwards had a "light-hearted" dinner in the wake of the alleged deal. Lawyers acting for Mr Magnier, founder of the world-famous Coolmore Stud, have claimed before the High Court that a US-based construction magnate, Maurice Regan, the preferred buyer, engaged in a "full-frontal assault" on Mr Magnier's claimed deal to buy 751 acres of land in Tipperary for €15 million. Mr Magnier's proceedings claim that Barne Estate reneged on the alleged deal, preferring to sell the land at the higher price of €22.25m to Mr Regan, the founder of the New York building firm JT Magen. Mr Magnier – along with his adult children - wants to enforce the alleged deal. They say the deal was struck at an August 22, 2023, kitchen meeting at Mr Magnier's Coolmore home. They also claim an exclusivity agreement that was in effect from August 31 to September 30 stipulated that the estate would not permit its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier. Barne Estate has been held for the benefit of Richard Thomson-Moore and others by a Jersey trust. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been "unequivocally" agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any agreement and subsequently they preferred to sell the estate to Mr Regan. Mr Regan is not a party to the case. Friday's evidence Mrs Magnier, whose husband concluded his evidence in the case on Friday morning, said that she was present at the kitchen table meeting with the defendants and estate agent John Stokes on the night of August 22, 2023, when the purchase was allegedly agreed. Mrs Magnier claims that after the Thomson-Moores were offered the €15m, Mr Thomson-Moore allegedly told the table that he, his wife, Anna, and Mr Stokes had to make phone calls to the trustees and Mr Thomson-Moore's sister to get their consent and went to another room. Mrs Magnier said that when Mr Stokes returned he was "elated" that a deal was done and was "clearly delighted". "Everyone was happy. We all shook hands and we asked if they would stay for dinner and they said they would," said Mrs Magnier. Niall F Buckley SC, for the defendants, said that Mr Stokes will give evidence that he never said the trustees were going to be contacted on the night and that phone evidence will show that no trustee was contacted immediately after the offer. "I clearly heard them say they were going out to call the trustees and to call the sister," said Mrs Magnier. Farm manager at Coolmore Joe Holohan, who was also present at the kitchen table meeting, said that Mr Magnier wanted to get a deal done on the night, as there was "no messing around" with Mr Magnier. Mr Holohan claims that Mr Stokes and the Thomson-Moores left the kitchen saying they had to go to make phone calls and that when they returned to the table that Mr Stokes was smiling "from ear to ear" and that all parties then shook hands. "It was like a weight off their shoulders, they came back different, very happy people, and we shook hands," Mr Holohan told the court. The case continues before Mr Justice Max Barrett next week.
