Courts / Ireland / Report
IBRC says taxpayer should not have to bear costs of McKillen action
Summary
In a High Court hearing on 19 March 2014, the Irish Bank Resolution Corporation (IBRC) argued that the taxpayer should not be required to pay the legal costs of Paddy McKillen's action to stop the sale of his loans to the Barclay brothers. McKillen, a property investor, had initiated proceedings against the IBRC special liquidators and the Barclay brothers over control of the Claridge's, Connaught and Berkeley hotels. The case was rendered moot after McKillen secured the loans, worth hundreds of millions of euros, with Colony Capital. Michael Cush SC represented McKillen, asserting that the court should not order costs against the IBRC, as no wrongdoing had been alleged. The IBRC's counsel contended that its costs should be borne by McKillen. The matter was scheduled for a decision on Thursday by Mr Justice Paul Gilligan.
Who, what, where, when and why
What: Report matter: IBRC says taxpayer should not have to bear costs of McKillen action. Procedural stage: hearing_or_decision
When:
- 2014-03-19 Publication
Why: " While it was accepted his client's participation had been minimal he did not see why IRBC which "is effect the taxpayer", should incur any legal costs because Mr McKillen had decided to discontinue his action. CNI source report
Places mentioned
- High Court
Topics
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