E-Clear given until 12pm Friday to prove funds
PwC seeking return of Globespan credit card payments
We've just received an update from PricewaterhouseCoopers on the outcome of the application to court over E-Clear's alleged withholding of payments to collapsed airline Globespan.
PwC press release: At the High Court in London today, Mr Justice Floyd took the decision to adjourn the case against E-Clear until Tuesday, 19th January 2010, however he enforced a requirement for E-clear to submit evidence that they hold the funds ( >£35m) to the court by midday on Friday, 15 January 2010.
Bruce Cartwright, joint administrator of Globespan and head of business recovery services at PricewaterhouseCoopers LLP in Scotland, commented:
"We are satisfied that the judge recognised our concerns and has put in place a process that will clarify the E-clear position in a very short time."
E-Clear also gave the court an undertaking that they would not dissipate any assets before the hearing.
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