A new development in JPMorgan's dispute with Xaris Karonis over Viva Wallet is a decision of the English court, with the founder and head of Viva describing it as "a positive outcome that secures Viva's valuation against the persistent efforts of minority shareholder J.P. Morgan to reduce it.".

In a post on LinkedIn, Karonis argues that the decision upholds the Principles of Business Ethics. He says the agreement provided JPM with a single opportunity to exercise its right to acquire the company, which occurred in January 2024 and was rejected by WeRealize under the Shareholders Agreement.

It is recalled that JPMorgan and Werealize (WRL) (which controls 51.5% of Viva Wallet, owned by Haris Karoni and Makis Antypas) have been taken to court, specifically to the High Court of London, over the valuation of Viva Wallet. The dispute started after JPMorgan acquired 48.5% of the Greek electronic payments company at the end of 2022. As Charis Karonis complains, JPMorgan is seeking to reduce the valuation of his company in order to buy, through the exercise of the call option agreement, the percentage it does not own at a lower price.

The above judgment was handed down by the London Court of Appeal, to which Karonis and Antipas appealed, following the judgment handed down last June by the London High Court, which at the time satisfied both JPMorgan and Werealize. It also became known a few days ago that JPMorgan has filed new claims against Werealize (WRL).