SegPay Provides Statement in Response to Emanon Lawsuit

FT. LAUDERDALE, Fla. — SegPay has issued a statement in response to a lawsuit and motion filed by Emanon, Inc. against SegPay.

The suit, which was filed in Broward County, Fla., involves a 2008 management deal between the two companies and seeks payments of an outstanding note payable to Mannejor Ltd., a Cyprus-incorporated company.

"We are disappointed that Emanon (CommerceGate) has chosen to initiate litigation against SegPay and believe the lawsuit is without merit and we will vigorously defend our position," said Cathy Beardsley, president and CEO of SegPay.

Below are the pertinent facts in the matter according to SegPay:

• Three years ago SegPay signed a management agreement and option purchase agreement with Emanon (CommerceGate).

• SegPay was assured by Emanon that it had the financial resources to exercise its option and purchase the outstanding shares of SegPay by the deadline of June 30, 2011.

• When Emanon did not have the financial resources to complete the transaction on the agreed date, SegPay decided it was in the company’s and its clients’ best interest to terminate the relationship with Emanon in July.

• What remains is a simple business dispute that does not affect SegPay or its clients going forward.

"SegPay is a strong, growing company, focused on serving our clients,” Beardsley said. “Our management team, IT infrastructure and support staff is in place and our banking and card association relationships will not be disrupted. It’s business as usual — only now, the SegPay way.”

CommerceGate, as a result of the dispute, is no longer doing business with SegPay.

“As a direct consequence of this lawsuit and effective immediately, Emanon is no longer providing management services to SegPay,” said Bjorn Skarlen, director of Emanon.

CommerceGate, which offers U.S. and European processing, said it was not affected by the suit "and will continue the expansion in line with its ambition to bring constant improvement to payment processing in the high-risk market."

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

New Membership Site 'Sluts Corner' Launches

R18 Entertainment has launched a new membership site, SlutsCorner.com.

Roxie Rae Relaunches Site Through XSiteAbility

Roxie Rae has relaunched her site through XSiteAbility.

Federal Appeals Court Vacates FTC 'Click to Cancel' Rule Pending Review

The U.S. Court of Appeals for the 8th Circuit on Tuesday vacated the Federal Trade Commission’s “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions, pending further review.

NYC Adult Stores Lose Challenge to Zoning Law, May Face Relocation

The U.S. Court of Appeals for the 2nd Circuit on Tuesday upheld a lower court’s decision to allow enforcement of a 2001 zoning law aimed at forcing adult retail stores out of most parts of New York City.

FSC Drops Florida AV Lawsuit in Wake of SCOTUS Decision

A U.S. district court judge granted on Tuesday a motion by Free Speech Coalition to dismiss the trade association’s lawsuit over Florida’s age verification law, a case that had been on hold pending the Supreme Court’s recent ruling on the constitutionality of state AV laws.

Ukrainian President Responds to Porn Legalization Petition

President Volodymyr Zelensky responded Tuesday to an OnlyFans model’s petition to decriminalize pornography in Ukraine, stating that he would wait for the legislative process to play out “in accordance with established procedure.”

Only Tax Deductions Joins Pineapple Support as Sponsor

Adult industry accounting firm Only Tax Deductions has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

Adult Empire Launches 'Conversations' Podcast Series

Adult Empire has launched a new official podcast series hosted by Nicole Chappelle and Charlie.

Sex Work CEO Launches 'Teams Plan' for AI Assistant

Sex Work CEO has introduced the new Teams Plan for its AI-powered, NSFW text generator, GPTease.

2025 XBIZ Amsterdam Website Launches With Call for Speakers

XBIZ is pleased to announce that the website for its annual European conference, XBIZ Amsterdam, is now live.

Show More