Thurrock, which declared effective bankruptcy in 2022, claims Dubai-based Liam Kavanagh bought yacht and jetA debt-ridden English council has alleged in a high court lawsuit that a Dubai-based businessman misused £150m of its investments for personal gain, including buying a luxury yacht and private jet.Thurrock council in Essex, which formally declared effective bankruptcy in 2022 having run up debts of more than £1bn after a series of disastrous investments, is suing Liam Kavanagh and his firm Rockfire Capital in London’s high court. Continue reading…
Source link : https://www.theguardian.com/society/article/2024/aug/15/debt-ridden-council-accuses-tycoon-of-misusing-150m-of-its-investments
Author : Jane Croft
Publish date : 2024-08-15 13:47:53
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