Payouts Can Start For Customers In Gambling Co.'s Collapse
Law360, London (June 8, 2021, 6:56 PM BST) -- Administrators can begin paying hundreds of thousands of customers whose funds with a soccer betting operator were frozen after the company collapsed earlier this year, sparking multiple investigations, a London judge said Tuesday.
Begbies Traynor Group can begin divvying up £3.2 million belonging to 280,000 customers of BetIndex Ltd. after the company's popular gambling platform collapsed in administration in March.
The Jersey-based company ran Football Index, a "stock market of football" where gamblers bought and sold "shares" in professional soccer players, earning a dividend payment on players' value.
Customers will be paid out as their accounts stood on March 26 after...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!