E-clear placed into administration

| January 19, 2010 | 0 Comments

Card-payment processing company, E-Clear, has been placed into administration.

The company was responsible for online ticket sales at Scottish airline Flyglobespan, which collapsed in December.

PricewaterhouseCoopers (PwC), which was appointed administrator for Flyglobespan, had been investigating E-Clear to establish why the company held back £35 million owed to Globespan Group, which operated Flyglobespan.

E-Clear was also understood to have processed Allbury Travel Group’s credit card payments, the company which was also placed into administration just before Christmas.

However, following a request from PwC, a High Court judge granted the administration order.

However, PwC said it had no explanation as to why the millions of pounds had been held back by E-Clear but Bruce Cartwright, administrator at PwC, said that the company will endeavour to recover as much money as possible for Globespan’s creditors.

He comments: “Those who bought services on credit card or visa debit, that have not been supplied, will continue to be protected by consumer card legislation and should contact their credit card issuer.”

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