Irish Agency Dodges $1.2B Suit Over Failed 'Chicago Spire'

Law360 (March 14, 2019, 7:58 PM EDT) -- An Irish government agency can't be held responsible in the U.S. for allegedly preventing a $1.21 billion deal that could've saved the "Chicago Spire," a skyscraper that would've been the second-tallest building in the world, a federal judge said Thursday.

After the 2008 financial crisis ruined the project's lender, Anglo Irish Bank Corp., Ireland's National Asset Management Agency eventually took control of millions of dollars worth of loans Anglo had issued for the Spire. NAMA's actions as it sold off that debt prevented the building's developer, Shelbourne North Water Street Corp., from finalizing a deal with an investor that would've earned...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!