Payzone ‘amicably’ settles legal dispute
Former Alphyra boss now wishes Payzone "every success", according to the terminals company
10 November 2008 | 0
Electronic payments firm Payzone has reported “amicably” settling a legal dispute with John Nagle, former chief executive of the company and John Williamson, former chief financial officer. However, a company spokesperson has declined to reveal any details of the settlement reached.
Mr Nagle’s firm, Alphyra merged with UK-listed cash machines operator, Cardpoint to form Payzone last November. The former boss and his chief financial officer lost their jobs in March by shareholder vote, following a public boardroom disagreement.
The men took legal action against the firm, while Mr Nagle, who owns 11% of Payzone, unsuccessfully initiated a motion to remove non-executive director David Mills from the board.
Payzone has said however that Mr Nagle and Mr Williamson have now wished the company “every success for the future.”