Staveley fights court ruling risking BANKRUPTCY & removed from role at Newcastle

Newcastle director Amanda Staveley is once again appealing against an order to pay £3.4million to a shipping tycoon that could see her face a bankruptcy petition, a report has suggested.

Staveley, who helped a Saudia Arabia-based consortium take over Newcastle from Mike Ashley in 2021, has already had a bid to throw the case out dismissed.

The situation stems back to 2008, when former Manchester City director Victor Restis, made a £10m payment to Staveley which he now wants her to repay.

Restis issued the statutory demand for £36.8m in May of last year after he made a £10m investment in Staveley's business ventures in 2008. Staveley had paid back just over £6m of the original sum and Restis' subsequent claim included interest of £31.3m, which was later dropped.

According to The Sun, Staveley is again appealing the order, which states she has until Monday to transfer the money to Restis or face the petition.

If she is dealt the petition, she would be disqualified from her role as a director at Newcastle, a position she has held since the takeover.

She is said to have filed documents for another appeal at the High Court on Tuesday, which will be heard later this year if granted.

According to The Mirror, Staveley, who is said to be worth £110m, has also resigned from her position as director of 20 companies associated with Newcastle.

Her stake in Newcastle was recently reduced from 10 per cent to six per cent due to cash injections into the club from the Saudi Public Investment Fund and the Reuben family, who are co-owners of the club.

Regarding the order to pay the money to Restis, the hearing judge is said to have said Staveley's witness statement was in 'the realm of fantasy and completely implausible'.

Ted Loveday, representing