One More Thing: Quinlan sues McKillen for a change

The battle for control of the £1 billion Maybourne Hotel Group has taken a fresh twist with Paddy McKillen facing a new claim over his shareholding, the Estate Gazette reported last weekend.

In yet another unforeseen consequence of the liquidation of Irish Bank Resolution Corporation, the door now appears to have been opened for Derek Quinlan to try and play Mr McKillen at his own game.

Mr McKillen is awaiting a ruling on whether he has the right to exercise a pre-emption clause in the hotel group shareholders agreement and buy out Mr Quinlan. He argued that a complex arrangement put in place by Mr Quinlan to transfer control of his shares to Sir David and Sir Frederick Barclay has triggered the clause.

Mr Quinlan, with the Barclays’ backing, has launched his own claim that pre-emption rights in respect of Mr McKillen’s 36.2per cent share in the company has been triggered.

The Gazette reports that in court papers, Mr Quinlan says the winding-up of IBRC in February means that the bank can sell Mr McKillen's shares in the hotels as various impediments died with the bank.