Welcome Break is suing Payzone

Ireland’s Payzone unit Cardpoint provides ATMs at 28 Welcome Break service stations. Customers will be charged £1.85 per each withdrawal, of which Cardpoint is supposed to give Welcome Break 97 pence. According to the agreement Cardpoint is also required to maintain machines, keeping them well stocked and online. 

However, as Daily Mail reports, Welcome Break is now suing the Cardpoint, claiming that targets were not reached between April and June 2008 and it is owed £691,000 in penalties. Moreover company is requiring getting money for failed targets up to January 2009 and interest of more than £150 a day.

Payzone says the matter is sub judice but it is advised that the "amount at risk, if any, is not material to the Company". The company's shares last January were suspended just six weeks after listing on the London AIM market following a power struggle. Shares resumed trading in May but have plunged in value. They are currently are 1.38 pence, compared to a year high of 47.75 pence.