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Sullivan Square Developer Sues Ireland Partner

LAS VEGAS-The local developers accuse their Ireland-based money partner of trying to cut them out of the $1-billion residential, office and retail development.

By Brian K. Miller | Updated on June 01, 2008

LAS VEGAS-Glen, Smith & Glen Development, the locally-based developer of the stalled 16-acre Sullivan Square mixed-use development here, is suing its equity partner in the deal, Harcourt Developments, a private company from Dublin, Ireland, which had agreed to finance up to $800 million for the 1,300-unit residential-over-retail project at Durango Drive and Interstate 215.

The lawsuit, filed on behalf of Glen, Smith & Glen Development Company LLC in Clark County District Court, alleges breach of contract and breach of fiduciary responsibility by Harcourt Nevada for failure and refusal to timely fulfill its funding obligations pursuant to the agreement. Harcourt was served with the lawsuit several days ago, according to court records, but has not yet responded to the allegations and did not respond to a request for comment.

“This case is not just simply about a contractual suit [and] our clients are really upset,” Plaintiff’s attorney John Manley tells GlobeSt.com. “The [Plaintiffs] are not small-time, penny-ante guys and this is not their first project. They have put their heart and soul into this and they staked their reputations on it; they are mad and very committed to having a jury hear this case and having Harcourt held accountable for what they’ve done.”

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