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George Gillett sued by hedge fund

Updated: November 19, 2010, 4:38 PM ET
Associated Press

NEW YORK -- A U.S. hedge fund is suing former Liverpool co-owner George Gillett Jr. over what the firm says is more than $117 million in debt he racked up investing in the Premier League soccer club.

Gillett didn't immediately return a call Friday to his Vail, Colo., office about Mill Financial LLC's lawsuit.

Through one of his companies, Gillett borrowed $70 million from Mill Financial in 2008 and agreed to pay interest of 19 percent, according to documents filed with the lawsuit. ...

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