Home » Fintech Can Not Halt Sale Of Raphaels Bank’s Visa Shares
Legislation 360, London (July 31, 2020, 7:16 PM BST) — A London judge Friday refused payment solutions supplier Sogexia’s bidding to stop Raphaels Bank from moving stocks in Visa Inc. to its parent firm, regardless of the fintech’s contention they are sold to repay the bank’s debts.
Within an oral judgment, High Court Judge Penelope Reed disregarded Sogexia’s injunction bidding and denied that the fintech firm’s petition to appeal that decision, a representative for Raphaels’ legal team affirmed in response to Legislation 360’s question about the choice.
Sogexia employed for an injunction in the High Court, stating the bank has been not able to move valuable shares from the credit card business at a…
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