The K Wearables prepaid Mastercard programme was migrated from a prior e-money issuer to Moorwand Ltd in April 2020.
Moorwand terminated the K Wearables prepaid programme in July 2022. They then attempted to shut down K Wearables Ltd.
High Court Judgement
On 27th February 2023, the High Court ruled in favour of K Wearables Ltd, stating:
…the company [K Wearables] has succeeded in establishing a genuine and serious claim based upon its claim of fraudulent misrepresentation [by Moorwand
Judge Raquel Agnello KC denied Moorwand Ltd’s permission to appeal and awarded trial costs to K Wearables Ltd.
The full judgement is available via the National Archives: https://caselaw.nationalarchives.gov.uk/ewhc/ch/2023/410