Bank Sued By Fintech Firm Still Can’t Block New Customers

Law360, London (October 31, 2019, 1:50 PM GMT) -- Raphaels Bank has agreed to an injunction being extended to prevent it from blocking new customers as it fights litigation brought by Sogexia, a payments services provider.

Sogexia SARL argued in its claim at the High Court in London that Raphaels, a British bank, had wrongly tried to terminate its agreement with the financial technology provider over concerns that some money transfers exceeded a French legal limit.

The order granted by Judge Peter Roth noted that both sides of the dispute had agreed to push the expiry date for a preliminary injunction that was granted in August out until Nov. 15,...

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