eNett and Optal Respond to Court Decision on Certain Preliminary Issues

While the Court has ruled on certain preliminary issues, it has yet to make a ruling on the ultimate issue, whether the effect of the pandemic on eNett and Optal constitutes a "Material Adverse Effect", as defined in the Share Purchase Agreement. WEX bears the burden of proof on this issue, which remains to be decided at trial. At trial, WEX will not be permitted to rely on any impact on travel that occurred in connection with changes in law or regulation. While the Court has ruled on certain...

LONDON, 12/10/2020 (informazione.news - comunicati stampa - turismo)

While the Court has ruled on certain preliminary issues, it has yet to make a ruling on the ultimate issue, whether the effect of the pandemic on eNett and Optal constitutes a "Material Adverse Effect", as defined in the Share Purchase Agreement. WEX bears the burden of proof on this issue, which remains to be decided at trial. At trial, WEX will not be permitted to rely on any impact on travel that occurred in connection with changes in law or regulation.

eNett and Optal remain focused on maintaining their leading position in the Travel Payments Industry, by providing a superior suite of innovative products tailored to their customers' needs and delivering the highest standard of service their customers have come to expect.

Dana Gorman / James Isola
Abernathy MacGregor / Maitland
dtg@abmac.com / jisola@maitland.co.uk
+1-212-371-5999 / +44 (0) 7841-982-020