(Above) Seen from the Lake Shore Drive Bridge, this 2.2-acre piece of land next to the Chicago River is where the Spire would have been built, arguably, had the real estate outlook in 2008 not been dark.
3-June-18 ?? Charges of attempted fraud of a US district court are brought by the developer of the failed Chicago Spire against the Irish bank agency he is suing.
Garret kelleher continues the National Asset Management Agency, which was formed after the global collapse of the real estate markets in 2008 to manage Irish real estate investments, including loans made to the Spire project by the Anglo Irish Bank. The loans were ultimately sold to The Related Companies for less than their value and now the National Asset Management Agency, on behalf of Irish taxpayers, is looking to Kelleher to make up the $ 54 million difference.
|Kelleher (left) says he was told he would not be sued for honoring his personal loan guarantee. The National Asset Management Agency says it is also immune from lawsuit over an agreement in the 2014 Chapter 11 bankruptcy settlement of Kelleher Company, Shelbourne North Water Street, LP.|
The agency has filed motions asking that the lawsuit against it be dismissed or at least remitted to a bankruptcy judge to rule on whether to continue the lawsuit. National Asset Loan Management Limited is also a defendant in the lawsuit which will be heard by a Chicago judge.
According to a petition filed by Shelbourne on May 29, the petitions filed by the National Asset Management Agency “? overlap legal and factual arguments that seriously mislead this court as to many of the same facts. “
Their claims, says a lawyer for Shelbourne, are misleading at best and attempting to fraud the court at worst.
Shelbourne disputes that the National Asset Management Agency was not sued by the bankruptcy settlement, arguing that the agency is not the “predecessor”? related companies that it claims, but rather an “independent third party who has engaged in an arm’s-length transaction”? sell the Spire loans to Related.
The attorney’s LinkedIn page appears to conflict with the statement made in the affidavit
J. Joseph Bainton, an attorney for Shelbourne, said in its 109-page motion to dismiss, the National Asset Management Agency submitted an affidavit from its in-house legal counsel, Sheila browne, who said she had ?? personal knowledge ?? that the agency acquired the Spire loans on November 1, 2010.
But on her LinkedIn page, Browne says she started her career at the National Asset Management Agency in April 2011. As of November 2010, according to the LinkedIn page, she was working for a law firm located 136 miles outside. of Dublin, where the agency is located.
|(Left) Sheila Browne’s LinkedIn page showing her debut at the National Asset Management Agency in April 2011. (Click to view larger image.)|
Because she was not yet working there, Browne, according to Bainton, is not qualified to testify on cases that arose at the National Asset Management Agency in 2010, which calls into question whether the agency even owned the loans. Spire at the time.
|?? We can quickly prove by competent evidence that our burden of [National Asset Management Agency] to deliberately deceive the court is not a simple hyperbole to which certain lawyers are too often inclined, ?? writes Bainton (right) in his motion filed on May 29, showing that he attempted to fraud this court with respect to the essential fact about which Shelbourne? ? s the claims in this action are founded, namely the proposition this [National Asset Management Agency] did not own the Shelbourne Note prior to May 21, 2013. ??|
Shelbourne is asking for an additional 16 days but says his response will be ready by June 27.
The Chicago office of The Related Companies, Related Midwest, proposed to build two slender towers on the site, an 1,100-foot tower containing 300 condominium units and a 175-room hotel, and an 850-foot tower with 550 units. rental. The project requires city zoning approval and funding.