E-Clear has until Friday to reveal Globespan cash

The Cyprus-owned E-Clear card payment processor under investigation in the UK over its alleged role leading to the collapse of the Scottish low-fare airline Globespan and Allbury Travel, has been ordered by a High Court judge in the UK to reveal how much money it is holding on behalf of the failed airline by the end of the week.
E-Clear has until noon on Friday to submit evidence of the “amount of funds” it holds.
Administrators to Globespan, PricewaterhouseCoopers, argued in court that E-Clear owes as much as GBP 20 mln to the airline in cash for flights and bookings that have already been completed.
Adjourning proceedings until next Tuesday, January 19, Judge Floyd said that E-Clear's application to adjourn the winding up order “appears to be putting off the evil day.”
Elias Elia, the Cypriot founder of E-Clear, was not present in court.
The judge added that the case was of “significant public interest”.
The decision is a blow for E-Clear which has consistently refused to divulge how much money it is holding on behalf of airlines including Globespan.
E-Clear was also a card-payment processor for XL Leisure, the holiday company which collapsed last year, and failed budget airline Zoom. Administrators for SkyEurope, a Slovakian airline, are also reportedly pursuing a claim against E-Clear.