Latest news with #Regan
Business Post
2 days ago
- Business
- Business Post
Exclusive interview: Maurice Regan on why Magnier ‘needs to get used to not getting his own way'
Business Post subscribers can read: • Regan's view on John Magnier's case for Barne Estate • How he built a multibillion-dollar construction giant while being laughed at by Irish developers • If he knows how much his fortune is worth
Irish Examiner
3 days ago
- 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.
India Gazette
4 days ago
- Politics
- India Gazette
"Reagan offered Aid, Trump threatens Modi": Khera slams Nishikant Dubey's claims
New Delhi [India], May 29 (ANI): Congress leader Pawan Khera, took a jibe at the BJP, thanking them for their recent actions, saying they've unexpectedly made the Congress party more noticeable, and refuted BJP leader Nishikant's claims on Former Prime Minister Rajiv Gandhi and US President Regan. Speaking to ANI, Khera said, 'We are very grateful to the BJP because we would not have been able to give the kind of publicity to Congress as the BJP is giving.' Khera referenced a letter from former US President Ronald Reagan to former Indian Prime Minister Rajiv Gandhi. He wrote on X, 'If you go through the letter written by US President Regan to Rajiv Gandhi, you will realise that President Reagan is requesting our help in Afghanistan. That was the kind of role India played then. The language used by President Regan was 'I offer to assist'. But today, President Trump threatens Mr Modi...' Earlier, Bharatiya Janata Party (BJP) MP Nishikant Dubey launched a fresh attack on Congress, claiming that New Delhi, during former Prime Minister Rajiv Gandhi's tenure, made a nuclear deal with Islamabad in 1988 under America's pressure. In a post on X, Dubey shared a purportedly declassified letter, which, according to him, was sent by then-US President Ronald Reagan to former Prime Minister Rajiv Gandhi. Dubey also claimed that New Delhi spoke to Former Pakistan President General Zia under US 'pressure'. He further stated that the agenda of the meeting was also set by the US President Reagan. 'Why is Congress angry? When I saw this paper, I felt ashamed. US President Ronald Reagan sent this letter/telegram to the then-Prime Minister Rajiv Gandhi. Under American pressure, we spoke to Pakistani President General Zia. The agenda for the talks was set by the US President. What we understood after this letter was that Pakistan and we did the nuclear deal in 1988 under American pressure,' the Godda MP said on X. 'Whatever we talked to our friend Soviet Russia about on the Afghanistan problem was an American agenda. Is this the Shimla Agreement? Is the Iron Lady the mentality of slavery? Were we a sovereign nation at that time? Is Congress abusing Modi Ji to make India stronger?' the BJP leader questioned. Notably, the Agreement on the prohibition of Attack against Nuclear Installation and Facilities between India and Pakistan was signed on 31 December 1988 and entered into force on 27 January 1991 and provides, inter alia, that India and Pakistan inform each other of the nuclear installations and facilities to be covered under the Agreement on the first of January of every calendar year. The agreement also prohibits the two nations from attacking each other's nuclear installations and facilities. This revelation adds a new layer to the ongoing political debate over third-party involvement in India-Pakistan relations, especially in the wake of recent escalations triggered by the Pahalgam terror attack and India's retaliatory Operation Sindoor. (ANI)
The Journal
5 days ago
- Business
- The Journal
John Magnier tells court defence is trying to portray him as 'bad guy' in Tipperary land case
BLOODSTOCK BILLIONAIRE JOHN Magnier has told the High Court that a barrister was 'trying to portray me as a bad guy' in a case where he says he had an exclusive agreement to buy land in Co Tipperary for €15 million, but missed out when the owners preferred a higher bidder. Magnier told the High Court that he employed experts in legal and financial fields because some advisory decisions were 'out of my pay grade'. The billionaire also told the court that money doesn't mean much to him, but it does offer a way to keep score 'on good days and bad days' in business. Lawyers acting for 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 Magnier's claimed deal to buy 751 acres of land in Tipperary for €15 million. Magnier's proceedings claim that Barne Estate, having reneged on the alleged deal, preferred to sell the land at the higher price of €22.25 million to Regan, the founder of the New York building firm JT Magen. Magnier has told the High Court that when he inquired about what happened with the bid, the estate agent involved told him: 'One word, John: greed.' Magnier – along with his adult children, John Paul Magnier and Kate Wachman – wants to enforce the alleged deal. They say the deal was struck on 22 August 2023 at a 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 Magniers have 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 and subsequently they preferred to sell the estate to Regan. Regan is not a party to the case. Advertisement At the High Court today, Martin Heyden SC, for Barne, asked Magnier if he is a billionaire. Magnier replied: 'I'd hope so – I've been fortunate.' Magnier said he was aware that the Thomson-Moores were selling the land so they could move to Australia to get better medical treatment for a family member. Magnier said he did not think the Thomson-Moore family were 'greedy', that he dealt with them in a 'fair and honourable way' and that the comment about alleged 'greed' was something that was said to him by the estate agent. Hayden asked if there was a 'disparity' between Magnier's billionaire fortune and a family, whose sole asset was the farm they were selling for medical bills and who were being offered €7.2 million more than the plaintiff had offered. Hayden asked Magnier if this, in his opinion, amounted to 'greed'. 'You're trying to portray me as the bad guy here. Nobody else would have offered them €15 million. It was the highest bid at the time,' said Magnier. He told the court that he believed the Thomson-Moores could have been 'misled' by Regan, who Magnier alleged wanted to keep land prices in Tipperary down. Magnier also told Hayden that he did not think the Thomson-Moores were behaving in a 'greedy' manner when they preferred Regan's offer, which was €7.25 million more than his own. Magnier told Hayden that he left school at 15 with 'not a very good education' and that he employed 'experts' in legal and financial matters because some decisions were 'above my pay grade'. Heydon asked the billionaire how much land he owned in Tipperary. Magnier answered, 'very little', and said reports of him owning 20,000 acres were 'totally false'. Magnier said that he has five children and 15 grandchildren, that his operation employs 1,300 people and that he would not do deals on distressed properties or people under duress to sell. When Hayden asked about Magnier's wealth, the billionaire said that money does not mean much to him, but that it was a way to 'keep the score' on 'good and bad days' in business. Mr Paul Gallagher SC, for Magnier, has said Regan was 'the man who started all this'. Counsel said the US-based businessman had a 'grandiose and mistaken' belief that the sale should not go ahead to Magnier and set out to 'destroy' the agreement to purchase Barne. The trial continues before Mr 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
Irish Examiner
5 days ago
- Business
- Irish Examiner
John Magnier tells court defence is trying to portray him as the 'bad guy' in Tipperary land dispute
Bloodstock billionaire John Magnier has told the High Court a cross-examining barrister was "trying to portray me as a bad guy" in a case where he claims he had agreed a deal to buy land in Co Tipperary that eventually failed when the owners later preferred a higher bidder. Mr Magnier on Wednesday also told the High Court he employed experts in legal and financial fields because some advisory decisions were "out of my pay grade". Mr Magnier has told the High Court when he enquired about what happened with his €15m bid he claims he had shaken hands on in 2023 but for which he was later out-bid, he was told by the estate agent involved: "One word, John: greed." 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 €15m. Mr Magnier's proceedings claim Barne Estate, having reneged on the alleged deal, preferred 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 claims Mr Regan's involvement and pursuit of the land breached an exclusivity agreement made on the purported deal between representatives of the estate and Mr Magnier. Mr Magnier — along with his adult children, John Paul Magnier and Kate Wachman — 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 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 Magniers have 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 and subsequently they preferred to sell the estate to Mr Regan. Mr Regan is not a party to the case. At the High Court, Mr Magnier confirmed his billionaire-class status in cross examination when asked by Martin Hayden SC, for the defence, by saying: "I'd hope so — I've been fortunate". Mr Magnier said he was aware of a medical condition that was in need of treatment in the Thomson-Moore family and they were selling the land in order to move to Australia to get better medical treatment for a family member. Mr Magnier said he did not think the Thomson-Moore family were "greedy", that he dealt with them in a "fair and honourable way" and the comment about alleged "greed" was something that was spoken to him by the estate agent. He told the court he believed the Thomson-Moores could have been "misled" by Mr Regan in the deal, who, Mr Magnier alleged, wanted to keep land prices in Tipperary down. Mr Magnier also told Mr Hayden he did not think the Thomson-Moores were behaving in a "greedy" manner when preferring Mr Regan's offering, which was €7.25m in excess of his own. Mr Magnier told Mr Hayden he left school at 15 with "not a very good education" and that he employed "experts" in legal and finance matters to aid his business decisions because it was "above my pay grade". The billionaire was asked by Mr Heyden how much land he personally owned in Tipperary and he answered "very little" but reports of him owning 20,000 acres were "totally false". Mr Magnier said he had five children and 15 grandchildren, that his operation employs 1,300 people, and he would not do deals on distressed properties or people under duress to sell. When Mr Hayden asked about Mr Magnier's wealth, the billionaire said money did not mean much to him but it was a way to "keep the score" on "good and bad days" in business. Mr Paul Gallagher SC, for Mr Magnier, has said Mr Regan was "the man who started all this". Counsel said the US-based businessman had a "grandiose and mistaken" belief that the sale should not go ahead to Mr Magnier and set out to "destroy" the agreement to purchase Barne. The trial continues.
