Newcastle co-owner Amanda Staveley in High Court chapter listening to

Newcastle United co-owner Amanda Staveley was pictured arriving at court docket after being plunged right into a chapter row.

According to The Telegraph, Staveley was set to ask the High Court on Wednesday to dam a billionaire from bankrupting her.

The report claims she is in a multi-million pound authorized battle with Victor Restis, a Greek transport tycoon, over allegations she by no means repaid a mortgage of greater than £35million courting again to 2008.

Restis has issued Staveley – who’s married to fellow Newcastle co-owner Mehrdad Ghodoussi – with a statutory demand for the fee.

This is a proper ultimatum for the debt to be settled inside 21 days. If it isn’t paid inside that point, or put aside by judges, non-payment can lead to a petition for the court docket to situation a chapter order.  

Newcastle United co-owner Amanda Staveley has been plunged right into a chapter row

The businesswoman was pictured arriving on the High Court on Wednesday to study her destiny

Back in June, Staveley’s legal professionals utilized to the High Court to have this statutory demand ‘put aside’, which might forestall her being confronted with a chapter order if the debt shouldn’t be paid inside that allotted time interval. 

A listening to was scheduled at 11:30AM on Wednesday, with Staveley – whose web price is a reported £110m – pictured arriving on the High Court.

Along with the statutory demand, Restis additionally issued PCP Capital Partners LLP, an organization the place Staveley is a director, with a winding-up petition.

However, the corporate has not traded for 5 years and altered its identify to Apollo Belvedere Services LLP final June. 

Restis and Staveley have historical past, with the Greek businessman lined up as a witness for the Newcastle co-owner throughout a court docket battle with Barclays price £1.5bn three years in the past.

The court docket battle was with regard to Staveley’s position in an emergency rescue of the financial institution again throughout the monetary disaster, though the 50-year-old’s legal professionals in the end did not use or require Restis’ proof. 

Staveley didn’t win any damages within the case, which got here concurrently she was serving to Newcastle’s PIF take over at Newcastle, which was finally confirmed in October 2021. 

Her legal professionals had been believed to be assured {that a} chapter order wouldn’t be served given the alleged debt is disputed, however Restis’ representatives disagreed. 

A spokesman for Restis instructed The Telegraph: ‘Mr Restis has instructed Francis Wilks & Jones solicitors to get better an excellent steadiness on a mortgage courting from 2008 from Amanda Staveley and any software by her authorized representatives to put aside our shopper’s statutory demand totalling £36,841,287 (plus persevering with each day curiosity) will likely be vigorously opposed.’ 

Staveley has beforehand dismissed the claims she owes Restis tens of thousands and thousands of kilos, as a substitute insisting the excellent sum is lower than a tenth of that at £3m.

It is believed to be associated to a £10m fairness funding made in 2008, with Staveley claiming £7m of that was repaid by 2016.

The Financial Times reported final 12 months that Staveley believes this new declare has ‘considerably inflated or wholly justified’ pursuits and prices, one thing Restis labelled ‘misconceived’.

Restis, beforehand a director at Man City, is a number one determine within the transport business, whereas he’s additionally an investor in a number of different enterprise ventures throughout banking and monetary providers, media, aviation, telecommunications and hospitality. 

Industry bible Lloyd’s List described him as one of many ‘100 most influential individuals in transport’. 

However, he has had run-ins with Greek authorities prior to now, with Restis imprisoned for 4 months in 2013 over alleged cash laundering and embezzlement, earlier than he was later acquitted of all fees.

In 2018, Restis was additionally given a 10-year suspended jail sentence for making false statements over an acquisition of land.

Newcastle’s accounts in January revealed they’d loaned Staveley £659,000 for authorized charges in August, after beforehand lending her £600,000 in November 2022.