The investment firm attempting to purchase Everton has seen one of its businesses fall into voluntary administration, with the company also understood to have failed to pay various advisors and suppliers.
Miami-based 777 Partners, who agreed to acquire Farhad Moshiri’s 94.1% stake in the club back in September of last year, saw its low-cost Australian domestic airline Bonza enter administration on Tuesday after its entire fleet was repossessed, leaving passengers stranded at airports across the country.
Bonza’s aircraft have been seized by AIP Capital, an investment company part of the portfolio of one of 777’s main lenders, A-CAP, in an effort to recoup money owed to investors, according to the Sydney Morning Herald. 777 Partners had originally bought the aircraft and issued long-term leases to Bonza during the pandemic, routinely moving aircraft between the Bonza and Flair, a Canadian low-cost airline that it also part-owns.
Inside Everton's perfect week as frank Sean Dyche talks and surreal messages spark turnaround
Everton takeover: 777 rivals remain interested but it's time they stepped forward
In April, AIP Capital announced the formation of a new holding company to lease aircraft, Phoenix Aviation Capital, with PAC at the time that they had reached “a definitive agreement to acquire the rights, interests and obligations of a portfolio of 30 737-8 aircraft from 777 Partners”
“We have been informed this morning that effective 03:00 today that all our aircraft have had repossession proceedings commenced by AIP Capital, the aircraft lessor,” Bonza chief executive Tim Jordan revealed to staff in an email.
“This was a surprise to both ourselves and 777 Partners. We are currently assessing all options and will provide
Read on liverpoolecho.co.uk