Chicago Spire Developer Heads Into Ch. 11 In Ill.

Law360, Chicago (November 8, 2013, 7:29 PM EST) -- The developer of the aborted Chicago Spire condominium tower — which was to be the tallest building in the Western Hemisphere — has reached a deal with disgruntled creditors to enter bankruptcy in Illinois, according to court documents filed Friday.

Last month, Shelbourne North Water Street LP, the developer owned by Irish real estate magnate Garrett Kelleher, was hit with an involuntary bankruptcy petition in Delaware by creditors led by The Related Cos. LP, which recently acquired the delinquent $69.5 million mortgage on the property. Shelbourne,...
To view the full article, register now.




Case Information

Case Title

Shelbourne North Water Street L.P.

Case Number




Nature of Suit

Date Filed

October 9, 2013

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.