The administrators of failed credit card payments processing firm E-Clear are set to go to the High Court to try to retrieve millions of pounds from its former chief executive, according to reports.
The Mail on Sundayreported that administrator BDO has started court action, contested by former E-Clear chief Elias Elia, claiming £4.3 million.
The report of the latest development in the E-Clear story comes almost after a year after it was forced into administration by the administrators of Globespan, the Scottish operator said to have been owed £35 million by E-Clear when it collapsed at the end of 2009.
The sum reported to be being sought from Elia is small in comparison to the £127 million of debts E-Clear is believed to have left.
But the Mail on Sunday reported that Elia, who always denied any wrong doing including in an exclusive interview with Travel Weekly before the collapse, is also facing claims from the former E-Clear backer and city financier Derek Tullett.
Administrator BDO said E-Clear tried to claim £6.5 million from its insurers following the collapse of other customers Zoom Airlines and XL Leisure Group but was turned down.
E-Clear is also attempting to claim £7.6 million from XL and its subsidiaries, the report claimed.