By: Barry O’Halloran
Garrett Kelleher: Invested $2.85m in 2006 to help Liberian group AJA to enforce a $66.5m judgment against US insurer Cigna Worldwide in return for a share of the lawsuit’s proceeds.
Irish developer Garrett Kelleher is facing a multi-million dollar legal bill after a US federal court found him in contempt arising out of his involvement in a €60 million insurance claim taken by a group of Liberian businessmen.
Mr. Kelleher, best known as the backer of the Chicago Spire, invested $2.85 million in 2006 in the efforts of Liberian group Abi Jaoudi and Azar Trading (AJA) to enforce a $66.5 million judgment against US insurer Cigna Worldwide (CWW) in return for a share of the lawsuit’s proceeds.
The case failed, but the US District Court in Philadelphia, Pennsylvania, has found Mr Kelleher and two others, Martin Kenney and Samuel Lohman, in contempt for their role in funding the AJA litigation, as they breached an injunction barring the Liberians from ever attempting to enforce the judgment.
The ruling by Judge Paul Diamond means that Mr Kelleher and the others could be ordered to pay CWW’s legal costs, which are likely to run into millions of dollars. The court has set Friday, August 5th, to deal with this.
Culled from Irish Times online