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.
St. Louis City v LA Galaxy: Reus sets sights on silverware after dream start
Marco Reus is desperate to bring silverware to the LA Galaxy after making a flying start to his time in MLS, with St. Louis City the destination for his first road game on Sunday.
Reus registered a goal and an assist on debut last week as the Galaxy beat Atlanta United 2-0, maintaining their grip on top spot in the Western Conference.
The Galaxy are five points clear of local rivals Los Angeles FC at the top of the standings ahead of Sunday's trip to St. Louis, who are 13th and 10 points adrift of the playoff picture.
Reus' arrival in Los Angeles has caused plenty of fanfare, but he is focused solely on the team's collective aims.
"It's not about me, it's about the team," he said. "We want to be champions. So we take it game by game.
"Besides the traffic, it's really amazing. The people are so friendly. The weather, it's really nice. When you wake up in the morning and the sun is shining, you start the day differently.
"So I'm really, really happy every morning I come into the dressing room. I'm just happy and excited."
St. Louis played out a thrilling 4-4 draw with the Portland Timbers last week, twice throwing away a two-goal lead to leave interim coach John Hackworth bewildered.
"Really don't know what to say," Hackworth said. "It's hard to imagine coming to a place like this and scoring four goals, being up, and then just losing one-versus-one defensive battles.
"Sometimes, the number of goals you give up, or the number of goals you score, can hide a lot of the transition moments.
"An easy way to prevent some of these defensive miscues from happening is to just be better with the ball."
PLAYERS TO WATCH
St. Louis City – Eduard Lowen
Lowen scored his fourth goal of the MLS season last time out, converting from the penalty spot as St. Louis drew 4-4 with the Timbers.
Only Joao Klauss, with five goals, has outscored him for St. Louis this term.
LA Galaxy – Marco Reus
Reus is one of 20 players in MLS history to record a goal and an assist on his regular-season debut.
He is also the fifth Galaxy player to do so, after Steven Gerrard, Andreas Herzog, Giovani dos Santos and Sasha Victorine. No other team have had more than two players achieve the feat.
MATCH PREDICTION – DRAW
The Galaxy have won 10 of their last 13 regular-season matches, the first time they have done so in a single season since 2011. LA have not recorded 11 wins in a span of 14 matches within a single regular season in the post-shootout era (since 2000).
It would be no surprise to see the points shared in this one, though. All three meetings between St. Louis and the Galaxy have ended level, all with different scorelines (1-1, 2-2, 3-3).
St. Louis have only won one of the last six matches in which they have held the lead in regular-season play dating back to the beginning of June (four draws, one defeat).
OPTA WIN PROBABILITY
St. Louis City – 35.8%
LA Galaxy – 38.1%
Draw – 26.1%
Raphinha hails Barcelona after statement win over Valladolid
Barcelona forward Raphinha believes the team have laid down a statement of their intent by starting the season with four straight wins in LaLiga.
Raphinha scored the first hat-trick of his career and also delivered two assists on Saturday, as Barca crushed Real Valladolid 7-0 at Camp Nou.
Hansi Flick's side already possess a four-point cushion at the top of the table after also recording victories over Valencia, Athletic Bilbao and Rayo Vallecano.
Raphinha believes their results have demonstrated the club got things right in the transfer market, telling Movistar: "Today's game has shown that there is no need for anyone else to come. We are very happy because of that.
"We are in very good shape. The team is working hard. Today's result shows what we are working for.
"We saw that the coach was on the sidelines asking for more goals and that's our mentality.
"We are hungry and want to score as many goals as we can. When we are dominant like we have been, the best way to respect our rivals is not taking the foot off the gas."
Raphinha was one of the players who faced criticism during Barca's trophyless 2023-24 campaign and was rumoured to be on his way out ahead of the new season.
The Blaugrana again battled financial restrictions throughout the window, allowing Ilkay Gundogan to leave in order to secure the registration of new arrival Dani Olmo.
With his future now certain, Raphinha is keen to nail down a starting spot and contribute on a regular basis.
"I don't know if today's was my best game, but it's certainly among my best. I will try to play even better and as much as I can," the Brazilian said.
"I'm very happy to be able to help the team. I feel good. I knew that this season would be very important for me. I'm looking for my best version to help my team-mates and be more confident."
Lazio 2-2 Milan: Leao salvages draw but Rossoneri still winless
Rafael Leao came off the bench to earn Milan a 2-2 draw with Lazio at the Stadio Olimpico on Saturday, but Paulo Fonseca's side are still without a Serie A win this season.
Milan were in front at the break through Strahinja Pavlovic's eighth-minute goal, the Serbian rising highest to power home a header from Christian Pulisic's corner.
However, Lazio hit back in the second half with Valentin Castellanos and Boulaye Dia scoring in quick succession.
Nuno Tavares' first-time ball into the centre was met by the unmarked Castellanos to level in the 62nd minute, then Dia tapped another Tavares cutback home to put the Biancocelesti ahead four minutes later.
Fonseca reacted by sending on four substitutes, and those changes had a swift impact as three of them combined for the leveller.
Theo Hernandez – who joined Leao in being dropped from the start – picked out Tammy Abraham, and his lay-off allowed Leao to escape Tavares to fire past Ivan Provedel.
The game was preceded by an emotional tribute to the man who led Lazio to their last league title, Sven-Goran Eriksson, who died at the age of 76 on Monday.
A Lazio shirt bearing the Swede's name was displayed on the home bench, while a banner held up by the home fans read: "You brought us to the top of the world... Have a good trip Mr. Sven."
Data Debrief: Milan's slow start continues
New Milan boss Fonseca is already under pressure after overseeing a return of two points from his first three league games at the helm.
It is the first time the Rossoneri have drawn two of their opening three matches in a Serie A season since 2011-12, when they also drew two and lost one,
They went on to finish second that season, just four points adrift of champions Juventus. If a title challenge is to take place this term, rapid improvements are needed.
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