Not sure if this has anything to do with them having issues but....
http://www.montrealgazette.com/Share...549/story.html
A South Shore man has seized the assets of local Internet payment company AlertPay Inc., and plans to sell the CEO's shares in the company next week.
"If you think that AlertPay is owned by Firoz Patel, that could change next week," said Sylvain Racette, the lawyer for Patrick Masse, who lives in St. Paul d'Abbotsford.
According to Masse's claim in court, he gave AlertPay $979,000 to invest in a European bank account. AlertPay was supposed to forward the money to the Credit Suisse account, so that Masse could invest it.
Masse claims Patel used his money to invest in a company based in Mexico called Air Temp North America. When Masse asked for his money back, he was told that it was frozen, and Patel didn't have access to it, Racette said.
Last year, Racette seized AlertPay and Patel's assets, including his car his house, and several bank accounts.
In a later agreement, Patel said he would pay $300,000 to stop the seizure, which was made before a judgment on the case could be rendered.
Patel said Masse's claims are bogus, and he followed the letter of their agreement exactly. He said it was Masse's idea to invest in Air Temp, and he even received money back from his investment.
Patel is counter-suing, claiming Masse is abusing the legal system for his benefit.
"He invested in a company that manufactured air conditioning units for cars," Patel said. "When the auto sector collapsed, the company stopped receiving orders and the money dried up. He panicked."
Patel explained he signed the promise to pay $300,000 even though he knew that he did nothing wrong. However, when Patel appealed, his claim was rejected. He said he will be vindicated when the case goes to court in June, 2012.
Patel's shares in AlertPay will be sold in an auction on Dec. 1, Racette said. A legal notice to this effect was published in the Journal de Montreal Oct. 31.