2nd Jun 2016 11:48
LONDON (Alliance News) - Boxhill Technologies PLC on Thursday said it received winding up petitions purportedly issued under the Insolvency Act 1986 against both the company itself and its Prize Provision Services Ltd subsidiary.
In a statement, Boxhill said the petitions are "wholly without legal merit, procedurally and technically deficient and are liable to be struck-out as an abuse of legal process". The company said it took legal advice in reaching its view.
"The petitions have been presented by Eupay Group Ltd, a company that formerly supplied payment services to the group, and the board believe this to be an effort to avoid repaying balances due to the group of GBP225,235," Boxhill said in a statement.
Shares in Boxhill were down 14% at 0.160 pence Thursday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Boxhill Technologies