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Barclay brothers and Maybourne Finance are being sued

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Published on 18/10/11 - Updated on 17/03/22

Property developer Patrick McKillen sues Barclay brothers and Maybourne Finance are being sued

Patrick McKillen (36% shareholder of Maybourne Hotels Ltd.) is suing David and Frederick Barclay and Maybourne Finance Ltd. concerning the €800 million sale of the luxury hotel company’s debt from Ireland’s National Asset Management Agency (NAMA) to the Barclays.Maybourne Hotels owns the Berkeley, Claridge’s and Connaught luxury hotels in London. NAMA acquired the hotels’ mortgage debt in 2010 and Barclay brothers bought it in September 30.“We are taking this action to protect our shareholding,” Breda Keena, a spokeswoman for McKillen told Bloomberg.Maybourne Hotels owns the Berkeley, Claridge’s and Connaught luxury hotels in London. NAMA acquired the hotels’ mortgage debt in 2010 and Barclay brothers bought it in September 30.

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