Scottish government calls for investigation into E-Clear

The Scottish government has called for an investigation into the collapse of Globespan, after credit-card processing firm E-Clear was forced into administration this week.

An administration order against E-Clear was granted on Tuesday at the High Court after evidence was presented that is has virtually no money.

A spokesman for the Scottish government said: “This outcome vindicates the action taken by the administrator. This is a deeply worrying situation and we will continue to press the UK government to investigate fully the circumstances behind the collapse of Globespan.

“It is clear that E-Clear could not provide evidence that the funds due to Globespan were still held by them. The Globespan administrator will now be working closely with BDO, the administrator of E-Clear, to see if any funds due to Globespan creditors and customers can be recovered.”

Scottish finance minister John Swinney has previously said there were “massive issues” with the way E-Clear conducted business. He said: “The key issue is about making sure that, in the private market, companies honour their commitments.”

The Serious Fraud Office (SFO) is also understood to be “very interested” in the business dealings of E-Clear.

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