Two US investment firms have asked a New York court to compel disclosure over a £450 million loan that shifted most of Aston Martin's brand rights to an outside owner, arguing the deal pushed value beyond their reach. Arini Capital Management and Tresidor Investment Management filed the application, which targets HPS Investment Partners, Authentic Brands Group's UK arm, and advisers Moelis and Lazard.
The loan and the brand rights
The loan was made in July by a group led by HPS, with an arm of Authentic Brands lending alongside. A further £100 million carries a condition: Authentic Brands must take a 50.1% stake in the unit holding the carmaker's non-automotive brand rights. Those rights cover licensing, merchandise, and lifestyle products — and they earn money while the car business loses it.
What the creditors are asking
The creditors argue the deal pushed value beyond their reach. They want the transfer reversed or compensation. Aston Martin withheld most of the material they requested, so they're asking the court to force disclosure. The application names HPS, which is owned by BlackRock, Authentic Brands' UK arm, and advisers Moelis and Lazard.
The legal routes
Creditors have two legal routes: one under New York law governing the bonds, another under Section 423 of the UK Insolvency Act, which allows courts to unwind transfers made at undervalue. So far, nothing has been filed in London.
A stock in freefall
Aston Martin closed at 33.20 pence on Tuesday, more than 99% below its 2018 debut. September's index review costs the carmaker its place in the FTSE 250. Nike's 12-year low shows how quickly a famous name stops supporting a share price. Rising global bond yields have made refinancing harder for weak borrowers.
Until a valuation surfaces, neither side can prove what the brand stake was worth.
