British businesswoman Amanda Staveley has urged a London court to dismiss a claim for more than £36m ($45.6m) brought by Greek shipowner Victor Restis over a loan made 16 years ago.
Lawyers for Staveley, a co-owner of Newcastle Football Club, say the claim includes interest of more than £31m and alleges that she was intimidated into signing some documents related to the deal, according to UK press reports.
Restis launched the legal claim in June 2023 to try to push London-based entrepreneur Staveley into bankruptcy and wind up her company, PCP Capital Partners, according to court filings.
Staveley received £10m ($12.7m) from Restis in 2008 while she was working with Middle East investors to bail out the stricken lender Barclays Bank during the global financial crisis.
The purposes of the payment in September 2008 are disputed, with conflicting reports about whether it was a loan or an investment that was later converted to a loan.
Staveley said the case should go to arbitration. Lawyers for Restis denied he made any threats and said the businesswoman effectively accepts she owes him money, Reuters reported.
Staveley was involved in the UAE takeover of Manchester City and the Saudi-backed purchase of Newcastle United in 2021. She has a 10% stake in Newcastle.
Restis’ Enterprises Shipping & Trading is the technical or commercial manager for 32 vessels, mainly bulk carriers and tankers, according to Equasis.
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