20-Jan-2010 11:43 AM

E-Clear placed in administration over Flyglobespan debt

UK High Court approved placing E-Clear, a credit card processing company, into administration, after it ruled that the company failed to prove it has sufficient funds to play debts to the now bankrupt Flyglobespan (Guardian.co.uk, 19-Jan-2010). Flyglobespan administrators, PricewaterhouseCoopers, claim that the company has not passed on GBP35 million in customer payments to the carrier. Of that figure, approximately GBP12.5 million is due to be returned to customers that paid for flights that did not take place.