JPMorgan Files Lawsuits In Greece And UK Over Viva Wallet Dispute
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JPMorgan International Finance Limited, a part of JPMorgan Chase & Co, has filed lawsuits against Werealize.com Ltd (WRL). According to the update, these legal actions relate to an ongoing dispute over the US bank’s investment in Viva Wallet, a Greek payments company.
The Greek lawsuit was filed on January 2, with JPMorgan claiming 916 million euros in damages. The bank said Viva Wallet’s leader, Haris Karonis, and three other Werealize.com Ltd-appointed executives carried out unlawful actions that allegedly reduced the value of JPMorgan’s investment in the company.
JPMorgan Alleges Breaches In Viva Wallet Management
According to the update, JPMorgan has accused the defendants of several violations. These include failing to appoint the bank’s chosen members to Viva’s board and replacing them with directors nominated by WRL. It also alleged that the firm transferred valuable assets from Viva Wallet without JPMorgan’s consent and withheld key information using false competition claims.
According to the update, JPMorgan filed another lawsuit against WRL in the United Kingdom. This case focuses on alleged breaches of a shareholder agreement. The bank claims Werealize.com Ltd caused Viva Wallet to ignore its obligation to seek JPMorgan’s approval before taking key business actions.
Haris Karonis, the leader of Viva Wallet, spoke about the lawsuits. He said these actions came after Viva filed cases against JPMorgan lat year He also said the bank wanted to stop Viva from growing and to control its directors. Karonis noted that these proceedings are part of JPMorgan’s effort to block Viva’s expansion and reduce its value.
JPMorgan’s spokesperson said Werealize.com Ltd had breached the agreement that formed the basis of the bank’s investment. According to the update, the spokesperson noted these actions harmed both Viva and Greece’s appeal for future investments.
The Latest Legal Actions Highlight Tensions In Viva
The fight between JPMorgan and WRL shows problems over who controls Viva Wallet. The lawsuits are the next steps in this fight about how decisions are handled in the company.
Reports show that the court cases in Greece and the United Kingdom could change how Viva Wallet works and how others invest in the future. Many people are watching to see what happens next in these cases.
According to the update, some experts said the lawsuits are important to protect shareholders’ rights. Others think the legal fight could hurt Viva Wallet’s name and business plans. As this continues, both sides remain strong in their beliefs. JPMorgan said it wants to protect its rights, while Viva Wallet denies the claims and fights back.
People who follow business news are paying close attention to this case. What happens next could change not only the two companies but also how others invest in Greece’s technology field.
