Staveley v Restis [2024] EWHC 670 (Ch)

On 25 March 2024, Deputy ICC Judge Schaffer dismissed an application by Amanda Staveley, a director and part owner of Newcastle United FC, to set aside a statutory demand in the sum of £3.4 million which had been served in May last year by Victor Restis, president of the Greek shipping firm Enterprises Shipping & Trading SA.

The demand related to the principal amount outstanding on a £10 million loan originally made by Mr Restis in 2008. A series of agreements between (among others) Mr Restis, Ms Staveley and Ms Staveley’s vehicle PCP Capital Partners LLP (“PCP”) had subsequently varied the terms on which the loan would be repaid, the most recent of which were a deed of amendment dated 7 January 2021 and a promissory note dated 1 April 2021.

Raquel Agnello KC appeared for Mr Restis at the hearing of the application, instructed by Sue Brumby of Francis Wilks & Jones. Dan Butler also appeared for Mr Restis in the bankruptcy proceedings and on the associated winding-up petition presented against PCP.

Please click below to read the judgment and case summary written by Dan Butler.

🔶 Judgment 

🔶 Case Summary 

Raquel Agnello KC
Dan Butler