- Zeepay says US$1.22 million debt matter is before Court of Appeal
Zeepay has responded to recent media reports concerning a debt-related legal dispute involving the company, insisting that the matter remains before the courts and is pending determination by the Court of Appeal.
The response follows an earlier NorvanReports publication headlined “Zeepay faces imminent closure over US$1.22 million debt,” which reported on legal proceedings connected to the company and other parties.
In a public statement issued by management, Zeepay said some media reports circulating on the matter do not accurately reflect the current legal position.
“Following recent media publications concerning the matter involving Zeepay, and other parties, we wish to inform our partners, stakeholders, customers, and the general public that this matter remains before the courts, pending determination by the Court of Appeal,” the company said.
Zeepay added that reports it considers inaccurate will be addressed through the appropriate legal channels.
“We note that certain reports circulating in the media do not accurately reflect the current legal position. These will be addressed through the appropriate legal channels in due course,” the statement added.
The company said it remains committed to the rule of law and the integrity of the judicial process, and would therefore refrain from making further public comments on the substantive issues while the matter remains before the courts.
“Zeepay remains committed to upholding the rule of law and respecting the integrity of the judicial process. Accordingly, we will refrain from commenting further on matters that are sub judice, and we urge the public to treat unverified reports with caution pending the courts’ final determination,” management stated.
Zeepay also sought to reassure customers, employees, partners and other stakeholders that the company continues to operate professionally.
“We thank our partners, customers, employees, and stakeholders for their continued confidence, and assure them that the Company continues to operate with professionalism and integrity,” the statement said.
The company’s response does not directly address the specific financial claims reported in the earlier publication, but it makes clear that Zeepay’s position is that the dispute has not reached finality because the matter is pending before the Court of Appeal.
The latest statement therefore shifts attention to the appellate process and the question of how the courts will determine the dispute involving Zeepay and the other parties.
For stakeholders, the key issue will be whether the pending appeal affects any enforcement steps arising from the earlier proceedings, and whether the Court of Appeal’s eventual decision will clarify the company’s liability, if any, in the matter.
Zeepay’s statement also highlights the sensitivity of reporting on active legal disputes involving financial technology companies, particularly where the issues may affect public confidence, customer relationships and investor perception.
While creditors and litigants are entitled to pursue legal remedies through the courts, companies named in such proceedings are also entitled to contest claims, appeal decisions and insist that pending matters be treated as unresolved until finally determined.
NorvanReports will continue to follow the matter and publish further developments from the Court of Appeal, Zeepay, the other parties involved, or their legal representatives.
