Cashbox settles with Hanco for £1.8m
LOSSES & LAWSUITS
LONDON – UK cash machine operator Cashbox has settled out of court, after a three-year litigation battle, with a £1.8 million payment to ATM vendor Hanco, bought by Royal Bank of Scotland (RBS) in 2004.
Hanco first brought proceedings against Cashbox and founder Carl Thomas three years ago, when it was reported that Hanco sought £2 million in damages regarding an allegedly stolen contract concerning installation of cash machines with the Thresher retail group.
The decision follows a summary judgement in Hanco's favour from the Master's Chancery Division last November that Cashbox had knowingly received documents containing Hanco terms and conditions. Cashbox was given permission to appeal but the hearing was adjourned on July 31.
The company was founded by brothers Carl and Matt Thomas. Carl previously worked as a sales director at Hanco but was fired last March over his share dealings after a bid approach for the company, which floated on the London Stock Exchange in 2006.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Grim repo warning spotlights BNP Paribas booking model
Federal regulators may be targeting French bank’s Paris-based book of US Treasuries
We’re all outliers now: Europe’s unflattering IRRBB test
Banks, fearing overreaction from supervisors, urge European Commission to reject NII-based assessment
SEC targets ‘dark magic’ in fixed-income pricing with Bloomberg fine
US regulator is going after pricing vendors that deviate from their published methodologies
Alameda’s mystery bank stake reignites Fed deposit debate
Crypto challenger Custodia accuses regulator of unlevel playing field over master accounts
More EU banks will fail new IRRBB test as rates push upwards
Half of all EU banks could cross outlier threshold for new test of net interest income
Finra head recognises ‘challenges’ for bond transparency drive
Cook says regulators thinking about industry’s operational and liquidity concerns
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
Hedge funds doubt tall tales around UK short-selling review
FCA has never used powers to ban short-selling, but reporting tweaks would be welcome
