Debono Group, which is behind mobility companies Cool and GOTO, is chasing Bolt for around €2 million, Lovin Malta has learnt.
Sources said Debono Group had obtained equity in Bolt early on in return for an investment. However, when negotiations broke down it was agreed that the investment would be repaid to Debono.
The amount was due to be paid back some six months ago, but did not materialise in time, prompting Debono Group to pursue the claim in court through a garnishee order.
Debono Group, which imports Toyota, is listed as a 25% shareholder in TXF Tech, the company which operates Bolt and Bolt Food in Malta, Cyprus and Tunisia.
TXF Tech’s CEO Sebastian Ripard told Lovin Malta that TXF Tech have since secured financing in order to be able to repay Debono Group.
“We expect this matter to be concluded shortly,” he said.
Debono Group spokesperson Michael Debono said: “We will continue taking the necessary action to recover the amount due through the appropriate channels. Meanwhile, the company remains focused on its core brands.”