Newcastle co-owner Amanda Staveley told to pay £3.4m after losing court battle with Greek businessman


Newcastle United co-owner Amanda Staveley has been ordered to pay £3.4million ($4.3m) to a Greek shipping magnate by April 22 — or he can petition the court for a bankruptcy order.

Staveley — who helped orchestrate the Saudi Arabia Public Investment Fund (PIF)-backed consortium that purchased Newcastle United for £300m in 2021 — had applied to the High Court to throw out the application made by Victor Restis.

However, in his two-hour ruling on Monday, judge Daniel Schaffer rejected her bid on every count and said she must pay back the money in full by April 22.

Staveley did not attend court in person on Monday. Immediately after the judgement, the 50-year-old said she intended to appeal the decision.

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The court previously heard it was “common ground” that Restis, 55, agreed in September 2008 to provide a £10m investment in Staveley’s business ventures, but there was “some ambiguity” about whether this was a loan or some other form of investment. Staveley claimed the money was to bid for property company Trillium. By 2014, just over £6m had been repaid, leaving the outstanding payment of £3.4m.

Restis initially issued a statutory demand in May 2023 for £36.8m. This included the £3.4m left from the original £10m loan, £2.1m in legal costs and expenses and finally £31.3m in interest. The claims for the interest and legal costs were later dropped.

Judge Schaffer also rejected Staveley’s suggestion that she was not personally liable for the loan and that Restis had “exploited” her Huntington’s disease, a degenerative genetic disorder she inherited from her mother, Lynne, that she claimed impaired her thinking during negotiations. He also said her condition had stabilised when the 2021 agreements were reached.

Following Monday’s decision, a spokesperson for Staveley said: “Amanda Staveley notes the ruling of the High Court today on her application to have set aside a statutory demand brought by Victor Restis. Ms Staveley notes and welcomes that the ruling made a £33 million reduction in the claim to principal only with no interest. Nevertheless, Ms Staveley continues to dispute personal liability and intends to lodge an appeal.”

(Stu Forster/Getty Images)





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