Court Places Miami’s 777 Partners in Receivership
Miami-based investment firm 777 Partners has been placed under limited receivership after a Delaware court found it in contempt for failing to reimburse legal expenses owed to former CFO Damien Alfalla. The decision, unsealed on August 18, requires the firm to cover nearly $600,000 in outstanding obligations.
Magistrate in Chancery Christian Douglas Wright appointed attorney Shaun Michael Kelly as receiver to enforce compliance. The order follows evidence that 777 Partners paid $6.1 million to other law firms between May 2024 and July 2025 while withholding funds due to Alfalla.
The court dismissed the firm’s claims of financial hardship, stating that inability to pay had not been proven. Wright emphasized that while 777 Partners continued paying salaries, rent, and other expenses, it chose to ignore clear court orders. The ruling also imposes a conditional fine of $500 per day until the contempt is resolved.
The receivership, limited to ensuring Alfalla’s reimbursement, will last an initial 59 days but may be extended. It adds to growing legal and financial pressures on 777 Partners, which has faced mounting scrutiny across its diverse portfolio of aviation, sports, and financial investments.
The company previously funded Australian low-cost carrier Bonza, which collapsed in April 2024, and was also a significant backer of Flair Airlines in Canada. Questions have since emerged over its financial management, including allegations of diverting funds between aviation and sports ventures.
The ruling highlights escalating challenges for 777 Partners as it attempts to stabilize its troubled investment empire.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com