Globespan firm diverted cash

THE credit card company blamed for its role in the collapse of Edinburgh-based travel group Globespan used cash to prop up one of its own sister firms, it has been claimed.

E-Clear is said to have diverted 1.5 million into keeping struggling Allbury Travel afloat while withholding 35m from Globespan.

Allbury Travel folded days later, while E-Clear was itself forced into administration last month.

It is believed E-Clear's debts totalled 100m.