Without 777's loans they'd have gone into administration by now and probably been relegated. However, 777 are being chased for money in the courts, in the US and UK.
From the FT "US insurance group A-Cap, a lender to 777, late last month said it would attempt to raise $400mn in fresh capital and take back control of assets ceded to 777 Re because of credit rating downgrades. Separately, a lawsuit filed in New York last week sought to prevent the transfer of 777 Partners’ assets to a co-founder to protect creditors’ interests, calling the firm a “house of cards”. 777 declined to comment on the court case."
"The American firm is being pursued for $28.5m (£22.4m) in the UK High Court over alleged unpaid aircraft leasing fees. "
"The proposed takeover of Everton has moved into added time after the bidder 777 Partners was granted a last-minute extension to repay a £160m loan."
"MSP, Bell and Downing hold security over the new stadium development at Bramley-Moore Dock, as well as a charge over just over half of Moshiri’s 94% stake in the club, according to corporate documents filed in the Isle of Man. They could have chosen to have taken control of Everton themselves on Monday, but instead have granted 777 more time to repay the debt."
"The club have had to borrow hundreds of millions of pounds over the past two years to fund their operations, with debts to third-party lenders now thought to total about £550m."
"Everton have paid about £30m in interest charges to an opaque lender associated with the tax exile Michael Tabor, according to corporate records. The charges appear to have reached about £438,000 a week, according to the troubled club’s most recent set of accounts"
They're an absolute shambles financially, if they get relegated they could genuinely be liquidated. I wouldn't be surprised if at the very least they head into administration by the end of the season. You'd expect a buyer to come in, if they defaulted on the loan - don't think they'd actually be liquidated.
