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Resolution of claim by Global 365 Limited – Competition Appeal Tribunal Judgment

globenewswire.com
PAY The company was involved in a legal claim that was largely dismissed by the Competition Appeal Tribunal, with the company defeating over 99.85% of the claim value. This indicates a positive legal outcome.

Resolution of claim by Global 365 Limited – Competition Appeal Tribunal Judgment Resolution of claim by Global 365 Limited – Competition Appeal Tribunal Judgment

PayPoint plc notes that the Competition Appeal Tribunal (‘CAT’) has today handed down its judgment concerning the claim brought by Global-365 plc and Global Prepaid Solutions Limited (‘G365’) against PayPoint Plc and a number of its subsidiary companies, PayPoint Collections Limited, PayPoint Network Limited and PayPoint Retail Solutions Limited (“PayPoint”).

The CAT has:

Importantly, the CAT’s findings confirm that PayPoint’s past contracts with energy suppliers were not a significant factor in G365’s lack of success. G365’s initial claim was for £172.2 million – meaning that PayPoint defeated more than 99.85 per cent of G365’s claim value.

PayPoint remains committed to ensuring its commercial practices meet all regulatory requirements.

ENDS

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