Ellie Ames 19 August 2024

Leader calls for inquiry into Thurrock’s finances

Leader calls for inquiry into Thurrock’s finances image
Image: CHOKCHAI POOMICHAIYA / Shutterstock.com

Thurrock Council’s leader has reportedly called for an inquiry into the authority’s investment decisions after a businessman was accused of misusing £150m of council funds.

Thurrock served a High Court lawsuit on Dubai-based businessman Liam Kavanagh and company Rockfire Capital Ltd last week.

The council said it was ‘deliberately misled’ by Mr Kavanagh over the value of investments and that he used £150m to fund his ‘lavish lifestyle’.

Lawyers for Mr Kavanagh said he ‘strenuously’ denied the allegations.

Thurrock issued a Section 114 notice in 2022 after accruing debts of around £1.3bn following a series of failed investments.

Council leader John Kent said: ‘We need to see an independent inquiry. I think there are members of Thurrock Council who have a lot of questions to answer.’

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