Newcastle United co-owner Amanda Staveley has made a bid to throw out a bankruptcy petition against her alleging she owes a shipping tycoon more than £36 million, the High Court heard.
Ms Staveley, who headed the Saudi-backed consortium that took over the football club in 2021, asked the Insolvency and Companies Court to set aside a demand served by Greek businessman Victor Restis in May last year.
The claimed figure comprises £3.4 million in principal, £2.1 million in “legal costs and expenses” and £31.3 million in interest, totalling £36.8 million, according to Ms Staveley’s lawyers.
The specialist court heard it is “common ground” that Mr Restis agreed in 2008 to arrange a £10 million investment in Ms Staveley’s business ventures, but that there was “some ambiguity” about whether this was a loan or some other form of investment.
In May 2016, the parties entered an agreement.
According to written submissions by Ms Staveley’s lawyer, Ted Loveday, his client was told to sign various other documents and instruments between 2017 and 2021, which ultimately said she was personally liable and which incrementally topped up that liability.
“The various post-2016 instruments… were procured by duress, undue influence and/or misrepresentation,” Mr Loveday said.
“The debt of £3.4 million had morphed into a debt in excess of £10 million, and which was said to exceed £36 million by May 2023,” he added.
Ms Staveley claimed she felt intimidated into signing the post-2016 documents, the court heard.
A specialist judge was told that Mr Restis’ lawyer, John Neocleous, allegedly told Ms Staveley that the shipping magnate “was not a man to be messed with, that he was dangerous and that (she) should not cross him”.
Mr Loveday said in written submissions that she “worried for the safety of herself and her family”.
“Ms Staveley felt understandably intimidated and felt she had no option but to sign,” he added.
Mr Loveday also said that Ms Staveley claimed her Huntington’s disease, which she allegedly made no secret of from Mr Restis or Mr Neocleous, affected her thinking and judgment.
But lawyers for Mr Restis said there is “no evidence” of “undue influence or duress”.
Raquel Agnello KC told the court that Ms Staveley was sent documents, given time to look over them and given opportunities to make revisions before she signed them.
In written submissions, Ms Agnello said: “There is a real lack of reality in relation to an assertion of duress as to the agreements.
“There is no evidence of any unlawful conduct by either Mr Restis or Mr Neocleous.”
She told the court there is no evidence “beyond (Ms Staveley’s) bare assertion” that Mr Restis is a dangerous man.
Referring to Ms Staveley’s medical condition in written arguments, Ms Agnello said: “There is no evidence that the debtor actually informed either Mr Restis or Mr Neocleous that she had Huntington’s.
“Importantly, the debtor does not assert that she informed either of them as to how that affected her in negotiations for the repayment of an outstanding loan.”
Ms Agnello also said an agreement signed on January 7 2021 “supersedes all previous agreements” and that under it, Ms Staveley is liable.
Mr Loveday asked the court to set aside the demand for over £36 million because it “raises a claim which ought to be determined by arbitration” and because Ms Staveley has “substantial ground for denying liability”.
He claimed that the 2016 agreement decided parties would submit their disputes to arbitration and that the same agreement said Ms Staveley is not personally liable and provided for her company PCP Capital Partners to pay.
Mr Loveday called the interest claims and claimed legal costs levelled against Ms Staveley “stratospheric”, and the imposition of personal liability as having come “out of the blue” in 2019.
The hearing before Judge Daniel Schaffer is due to continue on March 19, where Ms Agnello will continue her submissions and invite the court to dismiss Ms Staveley’s application to set aside the statutory demand.
Sessegnon rejoins boyhood club Fulham after Tottenham departure
Ryan Sessegnon has resigned for Fulham on a free transfer, five years after leaving the club.
The 24-year-old signed a two-year contract with the Cottagers with the option to extend for a further year following his departure from Tottenham last month.
In his first spell at the club, Sessegnon worked his way through the academy over 11 years, scoring 25 goals in 120 first-team appearances.
He then moved to Spurs in a £25million deal in 2019, though struggled to nail down a place in North London, making just 57 appearances in all competitions, and scoring three goals.
"It's amazing to be back. Emotional, as well," he told FFCtv. "It's where it started for me, where everything began, and it's amazing to be back.
"It will always be home for me. I think it had the feeling that it was meant to be, coming back here, so I'm delighted to get it done."
Sessegnon is Fulham's first signing of the transfer window, though they have seen plenty of first-team departures already, with Joao Palhinha, Tosin Adarabioyo and Bobby De Cordova-Reid all leaving the club.
Dewsbury-Hall: Maresca will surprise people at Chelsea
Kiernan Dewsbury-Hall believes new Chelsea manager Enzo Maresca will "surprise a lot of people" when they watch the Blues this season.
The Italian led Leicester City straight back to the Premier League as Championship winners in his only season in charge and succeeds Mauricio Pochettino at Stamford Bridge.
The Foxes topped the second division table with 98 points, with Dewsbury-Hall a key figure in his squad as he netted 12 goals and provided 14 assists last season – his best tally in a single campaign.
Dewsbury-Hall was also named Leicester's Player and Players' Player of the Year.
The midfielder made the switch to West London earlier this month for £30million and is confident that Maresca will have Chelsea challenging for trophies in no time.
"The manager was a big catalyst in wanting me to come," Dewsbury-Hall told BBC Sport.
"I knew from Leicester, a club that went down and had a lot of problems, how he managed to galvanise that if everyone manages to buy into the system.
"I genuinely think in a short space of time we can be pushing for minimum top four - but more than that.
"He may be unknown for a lot of people, but he is top, top level. He will surprise a lot of people."
Chelsea's pre-season got off to a frustrating start as they were held to a 2-2 draw by League One side Wrexham in Maresca's first game in charge on Wednesday.
Dewsbury-Hall did not play in that match but is training with the squad in the United States and could feature in their next outing against Celtic on Saturday.
The 25-year-old is confident the manager's tactics will come across soon, with the players buying into his style.
"We've only been doing it for two or three weeks, but the combination plays are really quick and tidy," he added.
"That's after two weeks. I remember he said to us at Leicester after six months or a year, there might be teething problems at the start, but it will improve.
"Within the first week at Leicester, I was convinced this was top, top level. I felt a bit stupid; I thought I knew a lot about football, but he was teaching me things on a daily basis that I didn't really know before. He has an aura, he can be strict, or gentle and soft - he has both sides.
"I am getting the same feedback here with the lads. They've bought into it here from minute one which is exciting. With a system and philosophy, you need everyone to buy in because, if they do, you can really achieve something."
Ederson slams reports of rift with Man City backup Ortega
Ederson has hit out at reports of a rift between himself and fellow Manchester City goalkeeper Stefan Ortega.
The Brazilian was substituted after suffering a fractured eye socket in City's penultimate game of the Premier League season, a vital 1-0 win over Tottenham.
Ortega replaced him and made a brilliant save to deny Son Heung-min as City maintained their slender lead over Arsenal at the top of the table, sealing an unprecedented fourth straight title by beating West Ham five days later.
Ortega was widely lauded for his role in that triumph, and an article published by The Athletic this week suggested Ederson took issue with that praise.
However, the goalkeeper – who missed the Copa America as a result of his injury – has now moved to shut down those suggestions with a post to his Instagram story.
"I would like to clarify that the note published by The Athletic yesterday, referring to my alleged dissatisfaction with a co-worker, is completely false," he wrote.
"The alleged day reported was, without a doubt, one of the most difficult days of my career, when I suffered a fracture that prevented me from playing in the final stretch of the season and, consequently, from representing my country in the Copa America.
"At the time of the injury, my only thought was to continue in the match, defending City in the fight for the title.
"But the emotion of the match would be greater than the reality and, inevitably, I would not be able to continue as I would have liked due to the damage it caused, completely blocking my field of vision. I remain focused on preparing for the season."
Ederson has been linked with a transfer in recent days, reportedly attracting interest from Saudi Pro League clubs.
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