Everton bidders 777 Partners sued in New York for $350m collateral fraud
May 7 – The prospective takeover of ailing English Premier League club Everton by 777 Partners has been plunged into further doubt after one of its lenders accused the Miami-based investment firm of fraud running into hundreds of millions of dollars.
According to a lawsuit filed in a federal court in New York, 777 owes more than $600 million to two London-based asset management companies, Leadenhall Capital and Leadenhall Life.
777 has already lent around £200 million to Everton but the Premier League’s Owners’ and Directors’ Test has stalled the sale.
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