Resolution of claim by Global 365 Limited – Competition Appeal Tribunal Judgment
Resolution of claim by Global 365 Limited– Competition Appeal Tribunal Judgment
PayPoint plc notes that the Competition Appeal Tribunal (‘CAT’) has today handed down its judgment concerning the claim brought by Global-365 plc and Global Prepaid Solutions Limited (‘G365’) against PayPoint Plc and a number of its subsidiary companies, PayPoint Collections Limited, PayPoint Network Limited and PayPoint Retail Solutions Limited (“PayPoint”).
The CAT has:
- Found PayPoint liable for an historical infringement of competition law, which ceased in 2018, concerning certain contracts under which it provided energy OTC prepayment services;
- Awarded damages of £169,334 plus interest to G365 in respect of its “loss of a chance” to win contracts with a limited number of small energy suppliers.
Importantly, the CAT’s findings confirm that PayPoint’s past contracts with energy suppliers were not a significant factor in G365’s lack of success. G365’s initial claim was for £172.2 million – meaning that PayPoint defeated more than 99.85 per cent of G365’s claim value.
PayPoint remains committed to ensuring its commercial practices meet all regulatory requirements.
ENDS
Attachment
© 2026 GlobeNewswire, Inc. All Rights Reserved.
