Throughout nine weeks of witness evidence, thousands of pages of documents and millions of digital files, there were many allegations made and statements contested.
But at the heart of the dispute between John Magnier and his family and the owners of Barne Estate was whether a binding deal was concluded at a meeting in Coolmore headquarters between Richard and Anna Thomson-Moore of Barne Estate, auctioneer John Stokes, John and Susan Magnier, and Coolmore farm manager Joe Holohan.
John Magnier claimed a binding deal was agreed for €15m, but US-based construction magnate Maurice Regan later agreed to pay €22.25m for the property.
Judge Max Barrett concluded on Monday that there was no binding agreement reached on that night, and in his judgment, he set out a timeline of events, agreed by both sides in the dispute, that describe in detail how Barne Estate’s 751ac residential property became the most talked about farm in Ireland.
Here's how events unfolded over six crucial months in 2023:
14 February 2023: Barne Estate Limited’s directors meet and decide to appoint joint selling agents: Savills (lead) and REA Stokes & Quirke (local).
24 April 2023: Barne Estate Limited’s board approves the formal terms for appointing REA Stokes & Quirke.
25 April 2023: The directors agree to engage Gartlan Furey Solicitors to act on the sale.
7 July 2023: Barne Estate is launched for private treaty sale at a guide price of €13.5m. Mr John Magnier views the property, accompanied by auctioneer John Stokes, Coolmore adviser Eddie Irwin, Mr Magnier’s son-in-law David Wachman, and his Coolmore farm manager Joe Holohan.
John Magnier pictured arriving at the High Court, Co Dublin.\ Tom Honan
13 July 2023: Tim Gleeson of Coolmore emails Eddie Irwin of Coolmore about Barne Estate Limited and liaises with Savills to obtain company information.
17 July 2023: Mr Magnier returns to Barne Estate with Mr Holohan and Mr Wachman, touring the estate with Mr Stokes and having a private discussion with Richard and Anna Thomson-Moore.
26-27 July 2023: UK-based rural property investment company Belport tenders an offer of €10.5m (inclusive of farm machinery). Architect Jonathan Dinnewell visits Barne Estate with Jerome Casey of Coolmore, arranged via Mr Stokes.
27 July 2023: Mr Stokes sends Mr Holohan the contact details for Barne Estate’s farm manager, Mr Colm O’Flaherty.
28 July 2023: Mr Casey of Coolmore tables an offer of €10m, excluding farm machinery.
31 July 2023: Mr Stokes informs Coolmore of a competing €10.5m bid from another party.
3 August 2023: Louis Fell, a UK-based bidder, withdraws the €10.5m offer.
14 August 2023: Coolmore raises its offer to €11.25m (excluding machinery); Mr Stokes confirms receipt.
22 August 2023: A meeting takes place at Coolmore House at Mr Magnier’s request, attended by Richard and Anna Thomson-Moore, Mr Stokes, Mr and Ms Magnier, and Mr Holohan.
Richard Thomson-Moore and his wife Anna arriving at the High Court, Co Dublin.\ Tom Honan
23 August 2023: Mr Stokes emails terms from the meeting of the 22 August to the Thomson-Moores and Dr McCullough. Mr Richard Thomson-Moore emails Ben Newman and Sarah Pritchard (IQ EQ) with the subject line ‘Offer received’. A board meeting of Barne Estate Limited notes acceptance of the offer ‘subject to contract/contract denied’. Mr Newman replies to Richard Thomson-Moore’s email, copied to others, confirming the trustees’ agreement to the offer on an exclusive basis and instructing that there be no further viewings.
24 August 2023: Coolmore instructs Smithwicks Solicitors for conveyancing. Draft “subject to contract” sales advice notes are circulated by Savills and approved by the trustees. Savills advises against granting access to the land until contract exchange and deposit.
25 August 2023: Sales advice notes (headed ‘subject to contract/contract denied’) are issued to Smithwicks and Mr Casey. Savills internally agrees to cancel further video marketing.
28 August 2023: Gartlan Furey advises Smithwicks they are finalising contracts and asks for purchaser details. Smithwicks responds that the purchasing entity is undecided but Mr Fitzpatrick can sign in trust.
29 August 2023: Mr Wachman speaks to Mr Maurice Regan about his ongoing interest. Mr Magnier visits Barne and discusses sowing rights with Mr Thomson-Moore. Mr Fitzpatrick suggests an exclusivity agreement. A €250,000 booking deposit is paid to Savills.
Coolmore machinery begins ploughing at Barne Estate.
30 August 2023: Coolmore begins ploughing at Barne. The trustees object and ask for machinery to be removed. Mr Regan offers €16.5m. Discussions take place about Coolmore’s employing farm manager Mr O’Flaherty.
31 August 2023: Exclusivity and tillage licence agreements are signed by both sides. Mr Stokes tells Mr Regan the property is ‘sale agreed’ and informs him his bid is not accepted.
5 September 2023: Coolmore transfers €15m into its solicitors’ client account. Mr Regan’s lawyers signal readiness to pay €18m, subject to contract. Contracts are still awaited from Gartlan Furey.
6 September 2023: Mr Pat Burke, who works for Maurice Regan, attempts to contact Dr Alexandra McCullough, sister of Richard Thomson-Moore.
7 September 2023: Coolmore offers employment to farm manager Mr O’Flaherty. Mr JP Magnier provides €50,000 cash via Mr Stokes to the Thomson-Moores. A call between IQ EQ, Savills, and the Thomson-Moores discusses the €18m Regan bid; the decision is to proceed with Coolmore. Ploughing resumes.
Barne Estate's main house, close to Clonmel in Co Tipperary.
8 September 2023: Mr JP Magnier meets Mr Thomson-Moore with Mr Irwin and calls tax advisers from KPMG.
9 September 2023: Mr Thomson-Moore returns the cash to Mr Stokes for return to Mr Magnier (completed on 11 September).
Auctioneer John Stokes at the High Court, giving evidence in the Magnier case. \ Collins Courts /CC
10 September 2023: Letters from legal firm Addleshaw Goddard (acting for Mr Regan) challenge the sale process.
11 September 2023: A conference call considers the Regan letters; Gartlan Furey advises a written response. Coolmore presses for contracts.
12 September 2023: Further letters from Regan’s legal firm Addleshaw Goddard are issued. IQ EQ instructs bringing of trust tax affairs up to date ahead of anticipated completion.
13 September 2023: Mr Thomson-Moore sends Coolmore invoices for farm supplies.
14 September 2023: Draft contract and caretaker agreement discussed on conference call on defendants’ side; Coolmore’s solicitors are chasing daily.
15 September 2023: The Thomson-Moores meet KPMG on tax issues. Mr Regan increases his bid to €20m.
18 September 2023: Addleshaw Goddard writes again, confirming a €20m offer with additional terms. A meeting discusses the bid but notes the exclusivity agreement is still binding.
21 September 2023: Beneficiaries seek further tax advice. Gartlan Furey (for Barne) reports to Smithwicks (for Coolmore) that clients are awaiting tax and caretaker arrangements advice.
22 September 2023: Smithwicks complains of delay; a meeting is proposed for 25 September. Gartlan Furey reiterates their clients await tax advice.
25 September 2023: Parties discuss extending exclusivity to 6 October.
27 September 2023: Smithwicks states Mr Magnier is ready to exercise an option to buy shares. The vendor’s board decides not to extend exclusivity.
29 September 2023: Arthur Cox (for Coolmore) threatens litigation.
30 September 2023: Exclusivity expires.
2 October 2023: Arthur Cox agrees to delay issuing proceedings until 3 October to allow trustee instructions.
3 October 2023: Barne trustees instruct Mr Stokes to negotiate with Coolmore; an €18.75m figure is floated. Mr Magnier counters at €15.5m; €18.25m is ultimately proposed.
4 October 2023: Savills’ Mr Butler records a call with Mr Thomson-Moore about the nature of the agreement and plan for senior counsel advice.
5 October 2023: Instructions are confirmed to accept service of proceedings by Barne Estate Ltd. Coolmore offers €16m plus €500,000 in trust for the Thomson-Moores’ son. Barne’s board resolves to accept this offer, subject to contract.
6-7 October 2023: Draft agreements are exchanged between respective solicitors.
10 October 2023: Mr Regan increases his bid to €22.25m.
Maurice Regan after giving evidence to the High Court in July. \ Collins Courts
15 October 2023: Vendor's (Barne) solicitors confirm discussions with Coolmore are over.
16 October 2023: Vendor's (Barne) board minutes documents acceptance of Mr Regan’s offer. Proceedings issue.
19 October 2023: Coolmore refuse attempt to return deposit.
9 November 2023: Deposit cheque returned and lodged by Coolmore.
1 December 2023: Conditional contract signed with Mr Maurice Regan.
Throughout nine weeks of witness evidence, thousands of pages of documents and millions of digital files, there were many allegations made and statements contested.
But at the heart of the dispute between John Magnier and his family and the owners of Barne Estate was whether a binding deal was concluded at a meeting in Coolmore headquarters between Richard and Anna Thomson-Moore of Barne Estate, auctioneer John Stokes, John and Susan Magnier, and Coolmore farm manager Joe Holohan.
John Magnier claimed a binding deal was agreed for €15m, but US-based construction magnate Maurice Regan later agreed to pay €22.25m for the property.
Judge Max Barrett concluded on Monday that there was no binding agreement reached on that night, and in his judgment, he set out a timeline of events, agreed by both sides in the dispute, that describe in detail how Barne Estate’s 751ac residential property became the most talked about farm in Ireland.
Here's how events unfolded over six crucial months in 2023:
14 February 2023: Barne Estate Limited’s directors meet and decide to appoint joint selling agents: Savills (lead) and REA Stokes & Quirke (local).
24 April 2023: Barne Estate Limited’s board approves the formal terms for appointing REA Stokes & Quirke.
25 April 2023: The directors agree to engage Gartlan Furey Solicitors to act on the sale.
7 July 2023: Barne Estate is launched for private treaty sale at a guide price of €13.5m. Mr John Magnier views the property, accompanied by auctioneer John Stokes, Coolmore adviser Eddie Irwin, Mr Magnier’s son-in-law David Wachman, and his Coolmore farm manager Joe Holohan.
John Magnier pictured arriving at the High Court, Co Dublin.\ Tom Honan
13 July 2023: Tim Gleeson of Coolmore emails Eddie Irwin of Coolmore about Barne Estate Limited and liaises with Savills to obtain company information.
17 July 2023: Mr Magnier returns to Barne Estate with Mr Holohan and Mr Wachman, touring the estate with Mr Stokes and having a private discussion with Richard and Anna Thomson-Moore.
26-27 July 2023: UK-based rural property investment company Belport tenders an offer of €10.5m (inclusive of farm machinery). Architect Jonathan Dinnewell visits Barne Estate with Jerome Casey of Coolmore, arranged via Mr Stokes.
27 July 2023: Mr Stokes sends Mr Holohan the contact details for Barne Estate’s farm manager, Mr Colm O’Flaherty.
28 July 2023: Mr Casey of Coolmore tables an offer of €10m, excluding farm machinery.
31 July 2023: Mr Stokes informs Coolmore of a competing €10.5m bid from another party.
3 August 2023: Louis Fell, a UK-based bidder, withdraws the €10.5m offer.
14 August 2023: Coolmore raises its offer to €11.25m (excluding machinery); Mr Stokes confirms receipt.
22 August 2023: A meeting takes place at Coolmore House at Mr Magnier’s request, attended by Richard and Anna Thomson-Moore, Mr Stokes, Mr and Ms Magnier, and Mr Holohan.
Richard Thomson-Moore and his wife Anna arriving at the High Court, Co Dublin.\ Tom Honan
23 August 2023: Mr Stokes emails terms from the meeting of the 22 August to the Thomson-Moores and Dr McCullough. Mr Richard Thomson-Moore emails Ben Newman and Sarah Pritchard (IQ EQ) with the subject line ‘Offer received’. A board meeting of Barne Estate Limited notes acceptance of the offer ‘subject to contract/contract denied’. Mr Newman replies to Richard Thomson-Moore’s email, copied to others, confirming the trustees’ agreement to the offer on an exclusive basis and instructing that there be no further viewings.
24 August 2023: Coolmore instructs Smithwicks Solicitors for conveyancing. Draft “subject to contract” sales advice notes are circulated by Savills and approved by the trustees. Savills advises against granting access to the land until contract exchange and deposit.
25 August 2023: Sales advice notes (headed ‘subject to contract/contract denied’) are issued to Smithwicks and Mr Casey. Savills internally agrees to cancel further video marketing.
28 August 2023: Gartlan Furey advises Smithwicks they are finalising contracts and asks for purchaser details. Smithwicks responds that the purchasing entity is undecided but Mr Fitzpatrick can sign in trust.
29 August 2023: Mr Wachman speaks to Mr Maurice Regan about his ongoing interest. Mr Magnier visits Barne and discusses sowing rights with Mr Thomson-Moore. Mr Fitzpatrick suggests an exclusivity agreement. A €250,000 booking deposit is paid to Savills.
Coolmore machinery begins ploughing at Barne Estate.
30 August 2023: Coolmore begins ploughing at Barne. The trustees object and ask for machinery to be removed. Mr Regan offers €16.5m. Discussions take place about Coolmore’s employing farm manager Mr O’Flaherty.
31 August 2023: Exclusivity and tillage licence agreements are signed by both sides. Mr Stokes tells Mr Regan the property is ‘sale agreed’ and informs him his bid is not accepted.
5 September 2023: Coolmore transfers €15m into its solicitors’ client account. Mr Regan’s lawyers signal readiness to pay €18m, subject to contract. Contracts are still awaited from Gartlan Furey.
6 September 2023: Mr Pat Burke, who works for Maurice Regan, attempts to contact Dr Alexandra McCullough, sister of Richard Thomson-Moore.
7 September 2023: Coolmore offers employment to farm manager Mr O’Flaherty. Mr JP Magnier provides €50,000 cash via Mr Stokes to the Thomson-Moores. A call between IQ EQ, Savills, and the Thomson-Moores discusses the €18m Regan bid; the decision is to proceed with Coolmore. Ploughing resumes.
Barne Estate's main house, close to Clonmel in Co Tipperary.
8 September 2023: Mr JP Magnier meets Mr Thomson-Moore with Mr Irwin and calls tax advisers from KPMG.
9 September 2023: Mr Thomson-Moore returns the cash to Mr Stokes for return to Mr Magnier (completed on 11 September).
Auctioneer John Stokes at the High Court, giving evidence in the Magnier case. \ Collins Courts /CC
10 September 2023: Letters from legal firm Addleshaw Goddard (acting for Mr Regan) challenge the sale process.
11 September 2023: A conference call considers the Regan letters; Gartlan Furey advises a written response. Coolmore presses for contracts.
12 September 2023: Further letters from Regan’s legal firm Addleshaw Goddard are issued. IQ EQ instructs bringing of trust tax affairs up to date ahead of anticipated completion.
13 September 2023: Mr Thomson-Moore sends Coolmore invoices for farm supplies.
14 September 2023: Draft contract and caretaker agreement discussed on conference call on defendants’ side; Coolmore’s solicitors are chasing daily.
15 September 2023: The Thomson-Moores meet KPMG on tax issues. Mr Regan increases his bid to €20m.
18 September 2023: Addleshaw Goddard writes again, confirming a €20m offer with additional terms. A meeting discusses the bid but notes the exclusivity agreement is still binding.
21 September 2023: Beneficiaries seek further tax advice. Gartlan Furey (for Barne) reports to Smithwicks (for Coolmore) that clients are awaiting tax and caretaker arrangements advice.
22 September 2023: Smithwicks complains of delay; a meeting is proposed for 25 September. Gartlan Furey reiterates their clients await tax advice.
25 September 2023: Parties discuss extending exclusivity to 6 October.
27 September 2023: Smithwicks states Mr Magnier is ready to exercise an option to buy shares. The vendor’s board decides not to extend exclusivity.
29 September 2023: Arthur Cox (for Coolmore) threatens litigation.
30 September 2023: Exclusivity expires.
2 October 2023: Arthur Cox agrees to delay issuing proceedings until 3 October to allow trustee instructions.
3 October 2023: Barne trustees instruct Mr Stokes to negotiate with Coolmore; an €18.75m figure is floated. Mr Magnier counters at €15.5m; €18.25m is ultimately proposed.
4 October 2023: Savills’ Mr Butler records a call with Mr Thomson-Moore about the nature of the agreement and plan for senior counsel advice.
5 October 2023: Instructions are confirmed to accept service of proceedings by Barne Estate Ltd. Coolmore offers €16m plus €500,000 in trust for the Thomson-Moores’ son. Barne’s board resolves to accept this offer, subject to contract.
6-7 October 2023: Draft agreements are exchanged between respective solicitors.
10 October 2023: Mr Regan increases his bid to €22.25m.
Maurice Regan after giving evidence to the High Court in July. \ Collins Courts
15 October 2023: Vendor's (Barne) solicitors confirm discussions with Coolmore are over.
16 October 2023: Vendor's (Barne) board minutes documents acceptance of Mr Regan’s offer. Proceedings issue.
19 October 2023: Coolmore refuse attempt to return deposit.
9 November 2023: Deposit cheque returned and lodged by Coolmore.
1 December 2023: Conditional contract signed with Mr Maurice Regan.
SHARING OPTIONS