Former world heavyweight champion Lennox Lewis appeared in the High Court this week in a bid to recover up to two-thirds of the US£5.87m he is owed by his former manager.
Lewis is asking Peter Smith J to rule that promoter Panos Eliades is the beneficial owner of a £2m property at Beech Hill, Enfield. The declaration will assist him in separate proceedings against Eliades for a charging order over the house.
The former boxer, who retired last February, was awarded the sum as damages in March 2002 by a New York federal jury, which held that Eliades and his company, Panix Promotions, were guilty of fraud, breach of fiduciary duty and racketeering.
According to Lewis, the house is one of several properties that Eliades has registered in the names of third parties in an attempt to hide his assets to avoid the consequences of the jury decision.
Lewis allegedly lived in the house for a below-market rent of £1,500 per month between 1993 and 2001, on the understanding that it was owned by Eliades. However, Eliades claims that the property was sold by his wife in July 1989 for £1.15m, and that he has no beneficial interest in it.
Speaking ahead of the hearing, a spokesperson for Lewis said: “Panos Eliades betrayed Lennox Lewis’ trust and confidence throughout the time that he acted as a promoter. Lennox is determined not to let him get away with what he has done, and will continue to pursue him until he is brought to justice.”
Peter Smith J is expected to reserve his decision at the end of the four-day hearing.
Lewis v Eliades and others Chancery Division (Peter Smith J) 15 March 2005.
References: EGi Legal News 18/3/05
