16th Dec 2016 09:59
LONDON (Alliance News) - Billing Services Group Ltd on Friday said it has made the third payment to the US Federal Trade Commission as part of the settlement agreed back in May, with seven further quarterly payments left to pay.
Billing Services paid USD520,000 to the Federal Trade Commission, the third payment to be made to take the total to USD1.6 million.
Billing Services is making equal quarterly payments to the Federal Trade Commission in order to pay off the total settlement agreed in May of USD5.2 million, meaning there is around USD3.6 million left to pay over the next seven quarters and placing the last payment in the third quarter of 2018.
The settlement was agreed prior to litigation starting in the US District Court for the Western District of Texas, and relates to issues with a business that Billing Services has not been involved with since 2012.
Details on the dispute have been thin on the ground since that settlement was reached in May. No interest is payable in connection with the settlement amount, and Billing Services may prepay the amount, in whole or in part, at any time with no premium or penalty.
By Joshua Warner; [email protected]; @JoshAlliance
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