![]() McKillen went to the High Court on the day the attack was launched and succeeded in blocking the takeover attempt. They immediately set a pre-pack administration in motion in an attempt to eliminate McKillen's shares and take over the company. The Barclay brothers owned the Ritz Hotel in London and always nurtured an interest in the three Maybourne hotels. This gave the Barclay brothers a once in a lifetime opportunity to launch a hostile attack on the hotel company. In a controversial move, NAMA sold the loans which were among the bank's best to the UK's Barclay brothers for their full par value plus all interest owed. When the financial crisis hit, Anglo Irish Bank was not able to survive and the group's loans were transferred to National Asset Management Agency (NAMA), a workout bank created by the Government of Ireland in response to the Irish financial crisis. Finance for the purchase of the group was provided by Anglo Irish Bank. As the three remaining hotels were in a very poor state of repair, one of the investors, Paddy McKillen, immediately set out on a plan to completely refurbish the properties beginning with The Connaught. It was decided soon afterwards that the Savoy Hotel did not fit into the plans and was sold to Kingdom Holding for approximately £250m. The Maybourne name was formed when a group of Irish investors, headed by Derek Quinlan, bought the Savoy group of hotels from Blackstone and Colony Capital in 2003 for £750m. In December 2019, Maybourne acquired the Montage Hotel in Beverly Hills, California and said the acquisition was part of a global expansion strategy. It was renamed The Connaught in 1917 after Queen Victoria's third son, Prince Arthur, the first Duke of Connaught. The oldest hotel in the group is The Connaught which was originally built as the Prince of Saxe Coburg Hotel in 1815. The group was renamed when the Savoy Hotel was sold off from the original group of four hotels: The Savoy, Claridge's, The Berkeley and The Connaught. Maybourne, formerly The Savoy Hotel Group has been operating luxury hotels in London with origins that go back 205 years. Maybourne is a Qatari-owned British luxury hotel operator, which owns and manages The Berkeley, Claridge's and The Connaught hotels in London, The Maybourne Beverly Hills in Los Angeles and The Maybourne Riviera in Roquebrune-Cap-Martin.
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