Smartpay Holdings Limited (ASX:SMP, NZX:SPY) has hit back at an unsympathetic article in the Australian Financial Review regarding its dispute with Live Taxi Epay.
The AFR is reporting that there was an acrimonious contract break with Live Taxi when Smartpay stopped supplying Live Taxi with payment terminals as it was entering the Australian market itself.
Live Taxi has been seeking compensation from Smartpay relating to breakdowns in its terminals several years ago.
In a statement to the ASX today Smartpay said it is owed $600,000 in historical payments from Live Taxi Epay and despite assurances no payment has been made.
Smartpay is now seeking recovery in the Supreme Court of NSW and considers Live Taxi Epay’s counter claim to be without merit saying it is confident of success if the matter proceeds to hearing.
Smartpay reported a net profit of $1.54 million for the full year ended 31 March 2015.
