High Court legal action launched to recover multi-million pound investment funds
15 August 2024
Thurrock Council has launched a High Court lawsuit against businessman Liam Kavanagh and investment company Rockfire Capital Ltd to recover misappropriated investment funds.
Court papers, published this week, confirm that Thurrock Council is suing its former investment partners for deliberately misleading the council to inflate the value of investments, exaggerating the purchase cost and value of renewable energy facilities, and misusing around £150m of investment funds to pay for Kavanagh's lavish lifestyle rather than for the permitted purpose in breach of trust.
Court papers, published this week, confirm that Thurrock Council is suing its former investment partners for deliberately misleading the council to inflate the value of investments, exaggerating the purchase cost and value of renewable energy facilities, and misusing around £150m of investment funds to pay for Kavanagh's lavish lifestyle rather than for the permitted purpose in breach of trust.