Battle for Barne ends with Regan the victor

The battle for Barne Estate, which saw two billionaires vie for the 751ac trophy property in Co Tipperary, has ended with US construction tycoon Maurice Regan the victor.

Regan went head-to-head with Coolmore founder John Magnier to buy the property in 2023 and offered €22.25m for it, some €7.25m more than Magnier’s offer of €15m.

The Coolmore side then launched legal proceedings, which aimed to enforce the €15m deal, which they claimed was a binding agreement between Mr Magnier and Richard Thomson-Moore of Barne Estate. That case resulted in judge Max Barrett ruling that no binding agreement had been reached between the Coolmore side and the Barne side.

On Thursday last, John Magnier and his family decided not to appeal the judgment, clearing the way for Regan to close the deal.

“The appeal contemplated by the plaintiffs did not intend to seek enforcement of the land deal (or associated damages) but intended to challenge the findings relating to the factual and legal position, reflecting the plaintiffs’ fundamental and firm disagreement with those findings,” a statement from the Magnier family said.

“The indicated appeal would have facilitated the Thomson-Moore family completing the sale of the Barne Estate regardless of the outcome of the appeal process.

“However, given that the plaintiffs would no longer be pursuing a claim over the land, an appeal may have been considered legally moot.

“On those pragmatic grounds and with a view to allowing all parties to move on, an appeal will not be pursued.

“John Magnier resolutely maintains the position he put forth at trial and his position in this regard has not changed,” the statement said.

“He has at all times acted in absolute good faith and remains disappointed by the court’s decision and the subsequent remarks of the trial judge, which he considers to be unjustified.

“The plaintiffs wish the Thomson-Moores well in their new life in Australia,” it concluded.

Regan to pay over €29,000/ac for Tipperary trophy property

US construction mogul Maurice Regan plans to close the deal to buy Barne Estate in the next few weeks, a spokesperson for Regan has told the Irish Farmers Journal.

Regan, who owns the 550ac Newtownanner Stud a few miles from Barne Estate, will pay the €22.25m (€29,627/ac) which he and Barne Estate Ltd agreed in a conditional contract on 1 December 2023.

Delighted

“We are delighted that justice and truth has prevailed and the Thomson-Moore family can move on with their lives as they planned some three long years ago,” a spokesperson for Maurice Regan had said.

“We are still dismayed that the case was ever taken, as it sought to over-turn 330 years of Irish conveyancing law.

“It has been a gruelling, public, costly and deeply unnecessary battle for the family that would have broken most human beings both emotionally and financially.

“As Maurice said in court, all he wanted to do was try and buy a farm. The Thomson-Moores simply wanted to sell their home and farm that had been in their family for almost 400 years for over €7m, or 50% more than the nearest bid of €15m, yet here we are three years and over €10m in legal costs later.

“We have nothing but admiration for the family for the bravery and dignity that they have shown in the face of what Anna Thomson-Moore described as being “steamrolled” into litigation they could not afford.

“Lawfare did not win in court, but the reality is the family have lost three valuable years,” the spokesperson concluded.

Thomson-Moores: ‘It was a long and intrusive process’

A statement on behalf on the Thomson-Moore family said that they wholeheartedly welcome the conclusion of the proceedings and thanked their legal team for their representation in the case.

“It took an immense amount of courage to withstand the onslaught we faced, and to believe that justice would prevail.

“The consequences for our family have been significant. Our lives have been placed completely on hold. The stress, trauma and financial burden imposed on the family throughout this entirely unnecessary process has been immense,” the family said.

“We now look forward to being able to turn our energy and attention to supporting and loving our family, especially our son Teddy. This was a long and intrusive process meant to intimidate us and bankrupt us. For everyone who has supported us – especially locally – please know that every single kindness has carried us. Thank you,” the family said.