Irish property developer Patrick McKillen has lost control of the Claridge’s, the Connaught and the Berkeley hotels in London to the Barclay Brothers.
In a ruling earlier this week, the UK's Court of Appeal reflected last year's ruling against McKillen in the challenge to the Barclay brothers' control over the Clarion company, as McKillen had asserted that the brothers had acquired their controlling shares illegitimately.With the ruling in favor of the Barclays, not only do the Claridge's, the Connaught and the Berkeley hotels rmain under the brothers' control, but McKillen must pay most of the brothers' legal costs in addition to his own. This could amount to costs of about £20 million.
