Bolt hits back at Debono Group over 'insolvency' claim

Three Maltese companies who operate Bolt have demanded that the plaintiff in a commercial case against the mobility operator publish a retraction of its claims or face court action, saying the other party “knew full well” that they were solvent.

The action comes in the wake of an article published by the MaltaToday on July 25, reporting court proceedings which were filed by Debono Group Holdings before the commercial court. Debono Group is one of the shareholders in the company operating Bolt’s mobile-app technology – TXF Tech – and has sued the same company together with TXF Tunisia Holding for €1.6 million, over the non-payment of two constitutions of debt.

In the applications, Debono Group had accused Bolt of being “legally insolvent” despite its operations appearing to be thriving and suggested that the profits generated by the operation were not being channelled towards the payment of its debts.

BLT Food Malta Ltd, BLT Operations Ltd and BLT Malta Ltd filed the judicial letter early Monday morning, claiming that the article was “clearly and manifestly the result of [Debono Group’s] actions” or that of their officials.

The judicial letter, the first step in a claim for damages, holds the group responsible in damages “already caused and yet to be caused as a result” of its claims. The plaintiff companies said that Debono Group “know full well that they [the plaintiffs] are operators of the Bolt brand in Malta, are not your debtors and do not even have a juridical relationship with you, and as you also declared are solvent.”

Lawyers Franco Galea and Lucio Sciriha, appearing for Bolt, warned Debono not to “endanger its repayment of credit owed by third parties or in some other way hinder Bolt’s operations in Malta,” and urged it to take the necessary actions to remedy the “malicious actions and those of your officials,” by the publication of a rectification in local media and social media, within 48 hours.