Trustee for Vivaro (Formerly STI Prepaid) Sues to Recover $700,000 Paid to Tellza for Services Rendered
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 10/21/14 -- Tellza Communications Inc. ("Tellza") (TSX: TEL) announced that the trustee in the Chapter 11 proceedings of Vivaro Corporation (formerly STI Prepaid) has commenced a lawsuit seeking to recover alleged preferential transfers of approximately $700,000 made to Tellza for services rendered in the ordinary course of business. Tellza believes that the claim in the lawsuit is entirely without merit and intends to defend the matter vigorously.
On August 12, 2013, counsel to the liquidating trustee of the Vivaro Corporation ("Vivaro"), a post-confirmation Chapter 11 debtor, delivered written notice to the Company that the trustee is seeking to recover an alleged preferential transfer in the amount of approximately $700,000.00. On September 13, 2013, the Company''s legal counsel responded that the Company has no liability to the Vivaro estate and outlined various facts and legal theories in support of the Company''s position in this regard. On November 11, 2013, counsel to Vivaro delivered a request for further information which counsel to the Company provided on December 19, 2013. On October 20, 2014, the Company was served with a lawsuit by Vivaro to recover the alleged preferential transfer. The Company believes that the lawsuit is without merit and intends to defend the matter vigorously.
The Company''s financial statements and other disclosures are available on SEDAR.
About Tellza
Tellza is a global communications company operating under several brands including Route Dynamix, Phonetime, Tel3, MatchcoM, and Tellza Technologies. Tellza is a public company listed on the Toronto Stock Exchange (TEL).
Caution Regarding Forward Looking Information:
This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. Tellza''s actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See which contains all securities files.
Contacts:
Tellza Communications Inc.
Gary Clifford
Executive Chairman
Tellza Communications Inc.
Michael Vazquez
President
+954-608-5058
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Datum: 21.10.2014 - 06:44 Uhr
Sprache: Deutsch
News-ID 1311452
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