|
|
Article: Credit Card Center Files For Chapter 11; Legal Woes Mount.
- Article from:
- ATM & Debit News
- Article date:
- June 14, 2001
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The mystery surrounding the finances of Credit Card Center, the troubled Philadelphia-based independent sales organization, will be unraveling in the coming months. The company on June 6 filed for Chapter 11 bankruptcy protection in Pennsylvania.
The filing comes after legal pressure from the ISO's creditors and ATM providers. A civil complaint against the company seeks class-action status and invites up to 11,000 retailers with ATM contracts with the company to join.
Houston-based Tidel Technologies Inc., which is owed $26.5 million for thousands of cash dispensers bought by the Credit Card Center, took legal action against the ISO is May. The ...