Prospective Everton owner 777 Partners is being accused of fraud by a pair of London-based asset management companies.
Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC are seeking damages after they claim Josh Wander — the co-founder of 777 — and a series of linked companies including 777, used $350million of assets that either were not controlled or owned by them or “did not exist” as collateral. Advertisement The complaint was filed on Friday in a district court in New York.
777 agreed to purchase Farhad Moshiri’s stake in Everton in September The complaint, was filed at the end of another turbulent week for 777, whose Australian airline Bonza entered voluntary redundancy on Tuesday. This latest legal issue follows as well as A-Cap, a New York-based financial services and insurance company who has backed 777 with hundreds of millions of dollars in recent years, earlier this year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prospective Everton owners 777 Partners to request extension for payment deadline777 Partners, the prospective owners of Everton, are seeking an extension to the deadline for paying a major club creditor as part of the Premier League's approval conditions. The deal to purchase Farhad Moshiri's stake in the club has not yet been ratified by the Premier League, causing delays. 777 Partners has provided funding for Everton's working capital and stadium construction, but the deal may not be concluded until May 2024.
Read more »
777 Partners nears conclusion on Everton takeoverMiami-based investment firm 777 Partners is close to completing the takeover of Everton, pending approval from the Premier League. The firm will provide £180m in loans to the club for working capital and stadium development.
Read more »
Everton takeover update as 777 Partners and MSP Sports Capital reach crucial day777 Partners have requested additional time to repay a club loan to MSP Sports Capital
Read more »
Everton takeover: 777 Partners now ‘bullish’ about deal but face huge hurdleThe inside track on the football stories that matter
Read more »
Everton takeover moves step closer as 777 Partners granted loan extensionThe wait for clarity over the club's takeover is set to continue
Read more »
777 Partners near £200m landmark with another critical Everton need loomingEverton have been relying on debt financing from 777 Partners for a number of months for working capital
Read more »