The Newcastle United co-owner is facing bankruptcy as a result of an ongoing court battle.
Eddie Howe has addressed the ongoing legal struggle concerning Newcastle United co-owner Amanda Staveley, after a court ordered her to repay £3.4 million to a Greek shipping mogul by April 22, or risk bankruptcy.
On Tuesday, a High Court judge dismissed Staveley’s plea to overturn Victor Restis’ application for a £10 million investment in 2008.
Restis claimed Staveley owed him £36.8 million, comprising £3.4 million in principal, £2.1 million in legal costs, and £31.3 million in interest. Staveley played a key role in Newcastle United’s 2021 takeover and was rewarded with a 10% interest in the club. In January, it was discovered that this had been reduced to 6%.
If Staveley fails to pay the court-ordered £3.4 million, she may be compelled to give up her Newcastle share.
However, the businesswoman intends to file an appeal, which will further delay the process.
Follow NUFC’s newest updates with Newcastle World’s free football emails. After the result, a representative for her stated: “Amanda Staveley notes the high court’s decision today on her plea to set aside a statutory demand brought by Victor Restis.
“Ms Staveley notes and welcomes the ruling’s £33 million reduction in the claim to principle only, with no interest.
“Nevertheless, Ms Staveley continues to dispute personal liability and intends to lodge an appeal.”
Eddie Howe has now commented on the situation, noting that Staveley is still dedicated to Newcastle United despite the uncertainties. “I saw her the day after and she was in really good spirits and she was here focused on Newcastle matters and trying to help the club,” Howe said. “I can assure everyone she is fully committed.”
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