Debt-ridden UK council accuses tycoon of misusing £150m of its investments

Thurrock, which declared effective bankruptcy in 2022, claims Dubai-based Liam Kavanagh bought yacht and jet

A debt-ridden English council has alleged in a high court lawsuit that a Dubai-based businessman misused 150m of its investments for personal gain, including buying a luxury yacht and private jet.

Thurrock council in Essex, which formally declared effective bankruptcy in 2022 having run up debts of more than 1bn after a series of disastrous investments, is suing Liam Kavanagh and his firm Rockfire Capital in London's high court.