UK payments firm earthport has lodged £180,000 as security against court costs as it resumes its £13.5 million damages claim against fallen dotcom star Baltimore Technologies.
The UK smallcap, which last week confirmed receipt of £1.879 million in funding, has complied with an order granted on 1 February requiring the firm to lodge £180,000 with the court and an additional £15,000 with Baltimore's solicitors.
Earthport is pursuing cash shell Baltimore for damages relating to alleged breach of contract over a deal signed between the two firms in 2001. Late last month earthport missed a deadline set by the Takeover Panel to make good on a proposed cash and shares takeover of Baltimore.
Baltimore has until 25 March to submit its defence against earthport's current claim.