More problems in Belgium for Miami-based 777 Partners after court authorizes asset seizure

BRUSSELS – A Belgian court ruled on Thursday that all assets in the country belonging to American investment group 777 Partners could be confiscated, in the latest legal setback for the company that owns Standard de Liège and several other football clubs.

The ruling by a Liège court came after Standard’s former owner Bruno Venanzi and shareholders of the company that owns the club’s stadium requested the change, saying 777 had failed to pay. The decision comes after a period of legal and financial turmoil for the Miami-based investment firm, which has also seen its airline in Australia grounded in recent weeks and faces a huge fraud lawsuit in New York.

Belgian media reported that the court authorized the seizure of all 777 Partners’ assets in the country, including accounts and shares in Standard, as well as shares in Immobilière Standard de Liège, owner of the Maurice Dufrasne stadium. The court declined to comment when contacted by The Associated Press.

“Following the seizure of 777’s assets, including shares and accounts in Belgium of Immobilière and the club, we hope that this measure will lead to 777 and/or its crisis manager responding to our questions and requests, which have so far been ignored” . Immobiliere said in a statement carried by Belgian media.

“If there is no response from them, we will take further measures to protect our interests and those of Standard de Liège,” he added. “Our priority is to ensure the continuity and stability of the Club in the short, medium and long term. We are available to the Club’s management to help them find a lasting solution for Standard de Liège.”

Fans of 10-time Belgian champions Standard have intensified protests this season against 777, whose financial problems have led to the club being placed under another temporary transfer embargo. Last week, Standard were unable to play a league game when protesting fans blocked the team bus from reaching the stadium.

777’s other clubs include Genoa in Italy’s top flight, Hertha Berlin in Germany’s second division and Vasco da Gama in Brazil.

The company’s most ambitious action in football, the attempt to buy Everton, a famous English Premier League club, was paralyzed for months, as doubts grew about the deal’s closing.

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