Victor Restis, CEO of Enterprises Shipping & Trading based in Athens, has won a legal battle in the London High Court against Amanda Staveley, co-owner of Newcastle United, over a debt of £3.4 million. The court dismissed an effort by the UK sports financier to annul a bankruptcy petition initiated by Victor Restis last year, which claimed that Amanda Staveley failed to repay a substantial loan. This legal contention stems from a 2008 agreement where Victor Restis, overseeing the bulk carrier and tanker management firm Enterprises Shipping and Trading, invested £10 million in Amanda Staveley’s commercial projects. In May 2023, Greek maritime magnate Victor Restis demanded a total of £36.8 million, holding Amanda Staveley personally accountable for a debt of £3.4 million, along with £2.1 million in legal fees and £31.3 million in accumulated interest. Nonetheless, Victor Restis later waived his claim for the interest and legal expenses. Judge Daniel Schaffer dismissed Amanda Staveley’s arguments for arbitration and allegations of undue pressure from Restis in acquiring the loan, declaring her personally liable for the debt. According to the legal demand, Amanda Staveley is required to settle the debt with Victor Restis within 21 days to avoid a bankruptcy declaration. Amanda Staveley has expressed her intention to challenge the court’s decision. 26-March-2024
Victor Restis, CEO of Enterprises Shipping & Trading based in Athens, has successfully won a legal battle in the English High Court to recoup a loan extended to Amanda Staveley in 2008. Co-owner of Newcastle United Football Club, Amanda Staveley, is now obligated to settle a nearly £3.5 million debt. Despite her ownership of 10% of the Premier League club alongside her husband, Staveley disputed the claim by Greek maritime magnate Victor Restis for the repayment. Interest accumulated brought the total due to over £36 million, yet Restis’ legal team chose to seek only the original loan amount, as reported by Reuters. In his decision, Judge Daniel Schaffer found Amanda Staveley personally responsible, dismissing her plea for arbitration and her allegations of undue pressure from Victor Restis to sign the loan agreements. The contentious loan was initially part of a £10 million financial arrangement for Staveley’s enterprises. Her legal representation argued that she was misled by Victor Restis, advocating for the matter to be resolved through arbitration. Allegations against Restis included threats of violence, which his legal counsel dismissed as absurd, noting Staveley had later extended an invitation to him for a Newcastle United game. In June 2023, Restis initiated legal action to drive London entrepreneur Amanda Staveley towards bankruptcy and dissolve her firm, PCP Capital Partners, as per court documents. Restis has until April 22 to file a bankruptcy petition against Staveley. The funds in question were part of Staveley’s efforts with Middle Eastern investors to support Barclays Bank during the 2008 financial downturn. There was ambiguity regarding whether the September 2008 payment was a loan or an investment subsequently converted into a loan. Staveley has played a role in significant football club acquisitions, including the United Arab Emirates’ takeover of Manchester City and the 2021 Saudi-led buyout of Newcastle United. Enterprises Shipping & Trading, under Victor Restis’ stewardship, oversees the management of 32 vessels, predominantly bulk carriers and tankers. 25-March-2024
Greek shipowner Victor Restis, the principal of Enterprises Shipping & Trading, is pursuing approximately $47 million from sports financier Amanda Staveley. Enterprises Shipping & Trading’s President Victor Restis initiates legal proceedings against the owner of Newcastle United regarding an unpaid loan. Victor Restis is reportedly seeking $47 million from Amanda Staveley for a payment made in 2008, which he alleges has not been repaid. Victor Restis has taken legal action in pursuit of £37 million ($47 million) that he claims is owed to him by the co-owner of Newcastle United Football Club for a loan extended 15 years ago. 6-July-2023
Enterprises Shipping & Trading S.A.’s dry bulk shipping arm Safbulk Maritime S.A. controlled 2010 built supramax bulk carrier 57K DWT MV Dynamic Striker holed after hitting a pier at Puerto Plata in the Dominican Republic on Saturday. Greek Victor Restis-backed shipowner and operator Enterprises Shipping & Trading’s dry bulk shipping arm Safbulk Maritime S.A. managed MV Dynamic Striker was holed in its bow just above the waterline after the incident. No crew member injuries or environmental casualties have been reported by the shipowner. 27-March-2023
Enterprises Shipping & Trading’s President Victor Restis published his opinions regarding shipping in the post-coronavirus era and low-carbon future. According to Enterprises Shipping & Trading’s President Victor Restis, the dry bulk sector has already been undergoing a drastic coronavirus recession that is pulling freight rates to historic lows. After the coronavirus pandemic, it is unclear whether countries will require a substitution to production sites and supply-chain pathways. According to Enterprises Shipping & Trading’s President Victor Restis, the United States has declared a transformation from dependency on China for products and equipments. Therefore, there will be an appealing design shift for the shipping industry, which depends profoundly on globalization. Enterprises Shipping & Trading’s President Victor Restis explained that maritime emissions account for 3% of global carbon dioxide output. In order to achieve a carbon-free environment, slow steaming is another solution that can be processed and executed reasonably by all parties concerned. According to Enterprises Shipping & Trading’s President Victor Restis,
the largest Greek shipowners support slow-steaming option, and Victor Restis believes that the slow-steaming option requires serious re-evaluation. Enterprises Shipping & Trading’s President Victor Restis reckons that shipping will rebound, exceed its pre-coronavirus recession profit levels, and manage the challenging carbon reduction levels. 4-June-2020
Greek Victor Restis-backed shipowner and operator Enterprises Shipping & Trading purchased 2012 built capesize bulk carrier 178K DWT MV Gotia for around $23 million from Hamburg based Orion Bulkers. Athens based Enterprises Shipping & Trading have acquired its first ship after more than two (2) years. Enterprises Shipping & Trading attempt to take advantage of the prevailing weak secondhand bulker market. MV Gotia is due for special survey (SS) in March 2022. Greek shipowner and operator Enterprises Shipping & Trading last time acquired a bulk carrier in January 2017. In January 2017, Enterprises Shipping & Trading acquired 2017 built ultramax bulk carrier 63K DWT MV Alora (ex MV Milos Island) for around $18 million. Currently, MV Alora (ex MV Milos Island) is worth around $17 million. Currently, Victor Restis led Enterprises Shipping & Trading has a fleet of 21 bulk carriers and 11 tankers. 9-May-2020