A marketing company is claiming that a financial firm cost it over €1.5 million in lost revenue when it dishonoured its contractual agreements.
Yes Media Ltd filed a judicial protest against Insignia Cards Ltd citing breach of contract. The two companies had signed a co-branding agreement whereby the former was allowing Insignia to use the word ‘Yes’ on its visa credit cards. In return, the latter had to embark on an aggressive media campaign to attract people to subscribe to the cards and also approach businesses urging them to participate in the Yes Rewards Scheme. Yes Media claimed that Insignia failed to honour these obligations and, as a result, the marketing company had suffered losses in excess of €1.5 million.
The marketing firm also claimed it had received a text message from one of the Insignia directors that the contract would be dropped. It said Insignia jumped the gun with its decision to unilaterally drop the contract without prior discussion. It said that this was done with ‘ulterior motives’ and certainly not in good faith. Yes Media called on Insignia to pay it damages resulting from the breach of contract.
The judicial protest was signed by lawyers Charlon Gouder and Joseph Gerada.