
The Barclay brothers have won the court case against Irish property developer Patrick McKillen over the control of Coroin, which owns three luxury London hotels: Claridge’s, the Connaught and the Berkeley.
Following a four-month trial, a judge in London has dismissed Mr McKillen’s claims that the Barclay brothers engaged in “unlawful” behaviour in an attempt to gain control of the properties owned by Coroin. McKillen, who has a 36.2 per cent shareholding in Coroin Limited, decided to sue Sir David and Sir Frederick Barclay, alleging they had attempted to bypass his right to buy more shares to prevent him from gaining control of the company. He challenged the brothers’ 35% share in the company, which they acquired after buying founder Derek Quinlan’s debts from Irland’s NAMA.The Barclay brothers, who own the Ritz hotel and the Telegraph newspaper group, welcomed the court’s decision.