Declan Ganley has claimed that the value of shares in Rivada he sold, and which were bought by Mr Shuman, were sufficient to settle the debt. Photograph: Brenda FitzsimonsDeclan Ganley, the founder of Rivada Networks, has been ordered by a New York court to pay $20,000 a month to settle debt owed to a former business partner.
Mr Ganley has already had to turn over a significant number of personal assets to satisfy the default judgment. The assets have included several companies, a pub in Galway, four acres of land and a number of vehicles.‘Every country in Europe right now with a coastline and deep water is going after floating offshore wind.’ Except IrelandHe has also had to sell off shares in Rivada, which were later bought at auction by Mr Shuman.
In her order, judge Schecter wrote that Mr Shuman’s lawyers “had shown that was indeed receiving such money and that he ‘is attempting to impede the judgment creditor by rendering services without adequate compensation’ due to the amount and manner he is being compensated as CEO of Rivada”. The payments will commence on June 1st, 2024, she ordered, and will continue “until such time that the judgment in this action is satisfied”.