Currency Calculator

Use the currency calculator to calculate the rate of exchange.

GBP Flag

1 GBP = 1.09598 EUR

EUR Flag

1 EUR = 0.91201 GBP

Change Currencies Currency Providers

Credit card firm E-Clear in legal battle

E-Clear, the credit card processing company used by collapsed airline Globespan, has gone into administration.

It's the latest step in a £35 million legal dispute over flight payments.

Mr Justice Vos, sitting at the High Court in London, has signed an order placing E-Clear into administration and said BDO had been lined up as administrator for the business, which acts as a middleman between credit card companies and airlines.

PricewaterhouseCoopers (PwC), the administrator for Globespan, asked the court to place E-Clear into administration last week after claiming the firm owes Globespan about £35 million.

Globespan collapsed just before Christmas with the loss of 650 jobs and leaving about 4,500 holidaymakers stranded abroad.

The Globespan administrator at PwC says they'll work closely with BDO to "maximise the situation for Globespan creditors".

Leave a comment

What's the press saying about Compare Money Transfer Ltd?

Top 10 Money Transfer Companies