Tycoons in family feud over two multi-million pound land deals

Aug 10 2008 By Norman Silvester

ONE of Scotland's richest families is at war in a bitter row over two multi-million pound land deals.

Former Olympic showjumper Gary Gillespie, 47, is being taken to court by his brothers Graham, 51, and Alan, 43, and their cousin John.

It is claimed they have not spoken for 18 months, with all contact through lawyers.

The Gillespies made their s100million fortune from mining, property and horse breeding.

Eldest brother Graham is a major Rangers shareholder and a friend of Ibrox owner Sir David Murray and Hollywood legend Sean Connery.

He, Alan and John, 44, fear Gary may sell lucrative land in Lanarkshire and Perthshire without their permission.

In May, they obtained a temporary order at the Court of Session preventing Gary from selling the land until a full hearing in November.

Both deals were funded from loans from the Dunfermline Building Society - but only Gary's name was on the titles.

Property development business had always been done on a "trust and confidence" basis within the family - often without signed contracts.

The first row is over a 23-acre site in Greengairs, near Airdrie, bought for s145,000 in March 2006.

The second deal was for a site in Auchterarder, bought for s380,000 in October 2006.

Both sites already have properties on them. The Gillespies planned a new development at Greengairs and the Perthshire site was earmarked for a s1.2million house.

The two brothers fear Gary, of Bothwell, Lanarkshire, might try to sell off both plots for his own gain. One document lodged in the court shows how bitter the split has become.

It reads: "They (Graham, John and Alan) are apprehensive he (Gary) does not intend to account fully to the partnership for the proceeds of any sale.

"As a result they are no longer able to place trust and confidence in his conduct of the business of the partnership or in his dealings."

The Gillespie dynasty was established by the brothers' father Jim - a former miner - who built his fortune on open-cast mining in Lanarkshire.

Their GM Mining empire is run in partnership with Rangers chairman Sir David and employs more than 250 people.

A fourth brother - Steven, 48 - is also involved in the family business but not the dispute.

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