E-Clear placed into administration

An administration order against credit card processing firm E-Clear was today granted at the High Court after evidence was presented that is has virtually no money.

E-Clear chief executive Elias Elia was ordered last week to provide bank statements by noon on Friday.

He missed this deadline, but late evidence presented on Monday revealed the company has €10 million on deposit for its German payment processing partner Pago and Can$130,000 in another bank account.

BDO LLP has been appointed  administrator of E-Clear and will investigate where the £35m owed to Globespan and the tens of millions of pounds owed to other companies are. 

This website uses cookies to ensure you get the best experience. Learn more