The trial of the Supreme Court of London was scheduled for May 13th. It will examine the dispute between the two shareholders of Viva Wallet, WeRealize, the interests of Haris Karonis and Makis Andypas, and JP Morgan.
According to British sources, last Friday (note: the day on which the general meeting of Viva was also held, with the two sides disagreeing on the issue of increasing share capital, amounting to 400 million euros), Judge Clare Moulder decided that the first trial would take place on May 13th, examining certain aspects of the dispute, including those of valuation, as well as the applicability of a US federal regulation.
“The court had a duty to deal with as many aspects of the case as possible in the same application,” she commented. It is worth mentioning that at the hearing that followed, JP’s lawyer accused the Karonis side of aiming for a long legal battle to exhaust the time limits the US bank has to exercise its purchase rights.
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“WeRealize should not be allowed to escape with this strategy,” he is reported to have said. WeRealize’s lawyer, however, dismissed the accusation that his client is trying to “sabotage” the call options process, emphasizing that “what it seeks is to achieve a situation where the shares, of which it is the main shareholder, are valued on the basis of an open market, reflecting the fact that Viva Wallet wishes and intends to compete in the US.” As for the US regulation, he noted that it should not be considered at all, given that if WRL wins the valuation dispute, then the regulation ceases to apply.
In any case, in less than two months, the Supreme Court will be called upon to rule primarily on the issue of valuation, which is, after all, the crux of the dispute between the two shareholders.
