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Barclays lose £200,000 court bid

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Barclays lose £200,000 court bid Empty Barclays lose £200,000 court bid

Post by GD Thu 29 Jan 2009, 10:11 am

Two multi-millionaire businessmen have lost a court case attempt to recoup £200,000 for the building of a community hall in the Channel Islands.

The Barclay brothers claimed that having a licensed bar in Sark's hall broke a stipulation on money they gave towards the building of it.

But Sark's Lieutenant Seneschal Patrick Talbot QC found the hall was not a pub and cleared the trustees.

The Barclays, who own Brecqhou island, are to consider their next step.

Mr Talbot said the hall's trustees were not guilty of misrepresentation, misappropriation or misconduct.

Paul Ardetti, the trustees' advocate, said the decision was a great weight off their shoulders and they were very relieved.

Peter Ferbrache, advocate for the Barclay Brothers, said he had not yet had the opportunity to discuss the judgement with his clients.

He said they would consider what, if any, further action will be taken when a written judgement is received next week.
(from BBC News)
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Barclays lose £200,000 court bid Empty Re: Barclays lose £200,000 court bid

Post by Troy McClure Thu 29 Jan 2009, 6:43 pm

What was their argument? what agreement was in place with the funding?

Anybody got any other sources?

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Barclays lose £200,000 court bid Empty Re: Barclays lose £200,000 court bid

Post by plimmerton811 Fri 30 Jan 2009, 7:55 pm

Troy McClure wrote:What was their argument?

Arguement, how about "you p**s me off and I'll have you"

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Barclays lose £200,000 court bid Empty Re: Barclays lose £200,000 court bid

Post by Troy McClure Sun 01 Feb 2009, 2:12 pm

I'm sure that's what many people will be assuming, but I imagine the Barclay's did have the intention at the outset that there was to be no commercial activity in the building. I'm just wondering how this was worded, and how it was honestly understood by the operators of the hall?

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Barclays lose £200,000 court bid Empty Re: Barclays lose £200,000 court bid

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