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Business News
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Leadership
Irish developer counter-sues Bank of America
11.11.2009
An Irish developer is counter-suing Bank of America (BoA) over the iconic Spire building in Chicago.
The Irish Independent reports this morning that Shelbourne Development, the property group headed up by Irishman Garrett Kelleher, has retaliated against legal action instigated by BoA over the summer.
BoA sued Shelbourne first alleging failure by Shelbourne to make repayments to loans.
However, the paper reports that Kelly has hit back with legal action of his own, alleging that BoA “willfully and wantonly” engaged in a systematic pattern of deception and unfairness in its dealings with it.
Despite foundation work taking place on what was to be the tallest building in Chicago, construction stalled last year following the onset of the global recession, and with the project now mired in legal action it appears unlikely any further development of the site will be taking place any time soon.
The paper also reports that some of the development work had been part-financed by the now nationalised Anglo Irish Bank.
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Irish Director is the definitive magazine for leaders and senior decision makers in Ireland. Produced in association more..
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Irish Director is Irelands leading senior management magazine. Designed for business leaders and decision makers across the island, it covers topics of specific relevance to Irelands senior directors.
Owner Manager is the latest title from the BusinessandLeadership.com stable. It focuses specifically on the needs of the business owner, offering both strategic and practical features and information related to running your own business.
Marketing Age is the definitive voice of the marketing industry in Ireland. Aimed at decision makers, marketing directors and industry professionals, it deals in-depth with marketing strategy, innovation and the world of new media.
Knowledge Ireland is a ground-breaking bi-monthly magazine from our sister brand siliconrepublic.com, unique in its exploration of strategy and innovation through people and technology.
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