Many have questioned the financial health of 777 Partners, a Miami-based investment firm. It’s why the Premier League has hesitated to approve the group’s attempted takeover of Everton, despite owning stakes in teams in Europe and Australia.

A federal lawsuit filed Friday may have put the final nail in the coffin.

Leadenhall Capital Partners, a British asset management company, alleges in the suit that it had provided more than $600 million in funding to 777, before learning that about $350 million in assets either didn’t exist, weren’t owned by the firm, or had already been promised to other lenders. A slew of 777-related companies and individuals are named as defendants, including owners Josh Wander and Steven Pasko, and their biggest lender, Kenneth King and his firm A-Cap.