The bloodstock tycoon has dropped his appeal over the purchase of the 750-acre Barne Estate on "pragmatic grounds". Magnier and Barne's new owner Maurice Regan issue statements.
The tycoon was accused of using "lawfare" tactics to bulldoze his opponents after his €15m handshake deal to buy the Barne Estate in Co Tipperary fell through. He is now appealing the court's ruling.
Healthcare investor Welltower's €5.9bn acquisition of the nursing homes portfolio, largely owned by JP McManus, Dermot Desmond, and John Magnier, marks the latest splurge by an American fund in the market.
The court's judgment is scathing in its dismissal of John Magnier's claim over a binding handshake deal for the 751-acre Barne Estate. As the loss settles in, what will the saga mean for Magnier and the Coolmore brand?
Costs in the highly-charged case taken by John Magnier are set to run into millions of euro following both a lengthy hearing this summer and also pre-trail hearings peppered throughout 2024.
Mr Justice Barrett found Magnier failed on all grounds in his claim that a handshake deal on a €15m price with the estate heirs at his home in Coolmore on the evening of August 22, 2023 was legally binding.
The US construction magnate is currently embroiled in a battle with John Magnier over ownership of the 751-area estate in Co Tipperary which both want to support their growing bloodstock businesses.
Lawyers in the multi-million-euro legal clash over who gets to buy the 751-acre Barne Estate in the Golden Vale have been presenting their closing arguments to the judge.
On day 17 of the trial, New York-based building magnate Maurice Regan testified on bidding for Barne, his "dark force" label and why "all is fair in love and war".
Estate agent John Stokes felt US-based building magnate Maurice Regan acted like an "absolute pig" in the Barne Estate transaction but he denies that he felt bullied by him.
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