Globespan collapse triggers E-Clear administration

The credit card company which handled bookings for collapsed Scottish airline Globespan has collapsed itself.

The company is also being examined by officers from the Serious Fraud Office according to reports in The Independent.

E-Clear was forced into administration after it failed to produce evidence of funds during a high court hearing.

The Independent reports that officers from the SFO are now looking into the credit card processing company and had conversations with Globespan’s administrators, PricewaterhouseCoopers, following the high court hearing.

Bruce Cartwright, administrator with PricewaterhouseCoopers LLP, said during the last month he had sought financial reassurances from E-Clear and was “disappointed” the funds were no longer there.

“We will now work closely with (e-clear administrators) BDO to maximise the situation for Globespan creditors under exceptional circumstances,” he said.

"Those who bought services on credit card or visa debit, that have not been supplied, will continue to be protected by consumer card legislation and should contact their credit card issuer."

Read the full story: SFO to look into missing millions at E-Clear