A High Court judge today ordered credit card payment processing company E-Clear to produce evidence that it has up to £35 million that administrators say is owed to failed airline Globespan.
Mr Justice Floyd rejected an application from PricewaterhouseCoopers to wind up E-Clear today, adjourning the hearing until next Tuesday.
But he ordered that E-Clear produce bank statements detailing the extent of funds it holds that were due to Globespan or its customers by noon on Friday.
He also accepted an undertaking offered by the counsel for E-Clear that the company would not pay any money out of its accounts in the meantime.
In making the adjournment and order, Mr Justice Floyd said it was possible that the application for an adjournment “is an attempt to put off the evil day”.
Courtesy TTG