Moneyline Puts Funds Into Escrow
ORGANIZATION & STRATEGY
Moneyline Telerate has agreed to put $18.3 million in disputed funds into an escrow account, reversing its stance last week. Reuters is suing Moneyline over the money, which it claims Moneyline owes for the use of its ticker plant and associated services (IMD, Sept. 29).
Moneyline, which disputes the charges, said last week that it would not deposit the funds into an escrow account, where the funds would be frozen. Instead, it put the money into a segregated account until Reuters agreed to an
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