// Sports Direct owner Mike Ashley settles a US legal row after he gave evidence under international law
// He was called on to give evidence relating to his role in a disputed deal to acquire US retail chain Eastern Outfitters
// Ashley acquired Eastern Outfitters for $100m (£78m) in 2017 after it entered Chapter 11 bankruptcy
Sports Direct’s founder and majority owner Mike Ashley has settled a US legal days after he was called on to provide evidence under international law.
According to the Mail on Sunday, New York Supreme Court judge Andrew Borrok had called the Queen’s Bench of the High Court in London for Ashley to provide “compelling oral evidence for use at trial” relating to his role in a disputed deal to acquire US retail chain Eastern Outfitters.
- Sports Direct International will soon rebrand to Frasers Group
- Mike Ashley demands turnover rents across Sports Direct empire
- Fobbed off: Sports Direct launches attack on business committee chair
Ashley had acquired Eastern Outfitters for $100 million (£78 million) in 2017 after it entered Chapter 11 bankruptcy.
It was alleged that the deal was conducted with ”limited due diligence over a two-day period”.
Vestis, which sold Eastern Outfitters’ $17 million debt to Ashley, alleged that Sports Direct still owed it money.
However, an agreement with binding terms has reportedly been reached and the judge was asked not to discontinue the legal proceedings.