Newcastle United co-owner Amanda Staveley appealing order to pay £3.4million to Greek shipping tycoon
NEWCASTLE United co-owner Amanda Staveley is appealing against an order to pay £3.4million to a shipping tycoon.
She had been given until Monday to transfer the money to Victor Restis or face a court bankruptcy petition.
That would disqualify Ms Staveley, worth £110million, as a director at Newcastle, where she has a six per cent share.
Her first bid to throw out the case was dismissed but yesterday she filed documents at the High Court seeking an appeal.
If granted it will be heard later this year.
The spat stems from a £10million payment Greek magnate Mr Restis, 55, made to Ms Staveley, 51, in 2008, which he wants her to repay.
He demanded £37million including an interest payment of £31million — branded “exorbitant” by Ms Staveley’s lawyers.
Ted Loveday, representing her, had argued the dealmaker felt “intimidated” into signing documents that made her liable to repay Restis instead of her investment firm.
Insolvency Judge Daniel Schaffer previously dismissed her case as it “ventured into the realm of fantasy”.
A spokesman for Staveley said at the time that she did not accept the ruling.
Her appeal, in the Chancery Division, will be heard later this year.