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Not-accepted Contract Termination

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  • Not-accepted Contract Termination

    Dear World Law Direct,
    I am having a big problem with Bloomberg LLP, the Financial Information company of Michael Bloomberg.
    I am an Italian citizen, on December 1st 2003 I signed a contract with Bloomberg LLP to receive financial imformations.
    This contract had a 2-year duration.
    On September 2005 I phoned to my sales representative (Mr. Gabriele Marconi) to inform him of my willingess not to renew the contract at it natural expiration on December 2005. During this conversation I asked Mr. Marconi what I needed to do to end the contract and he said to me that an instant message with Bloomberg system was ok.
    Few minutes later I sent him a message with Bloomberg system informing him of my willingness not to renew the contract.
    After December 2005, I have continued to receive quarterly invoices of more than $5'000 requesting the payment of the service till April 2006, when a collection representative of Bloomberg (Mrs. Antonella Lasta) wrote me requesting the payment of late invoices.
    I informed her that I considered the contract not renewed as per my message of September 2005.
    She asked for a formal fax, requesting the expiration of the contract.

    Now, I am receiving calls and mail by Pegasus Ltd requesting the payment of $25'000+ or they will bring me in front of a judge to obtain the payment of this amount + interests + legal expences!!!

    I have read the contract in detail and the Governing Law is the State of New York.

    Just for your information, a message with Bloomberg can be sent only by the user, as each user has to enter 2 password to enter the Bloomberg system, one of which is a high security numerical password.
    Secondly a message with Bloomberg has all the elements of the legal mail. The time is set by Bloomberg (not by the sender computer), it can be seen when the receiver read the message.
    Anyhow, I have an email by Mrs. Lasta informing me that my massege was received, but Bloomber claims that they requesed me a fax, which is untrue.
    I was never asked such fax confirmation. In case they asked me a fax I would have had no problem in sending it to them.

    Please, let me know what can I do to avoid the payment of this incredible amount, that I do not have at the moment.
    I have the impression that they will not accept my position amicably, I think I should prepare for a trial. Do I have any chance of winning in a trial?

    Kind regards
    Riccardo Antoniol

  • #2
    You may vigorously dispute that you agreed to these payments. Often these companies will not really sue but will try to push you to collect.

    If you want our lawyers to deal with them for you, email us at [email protected] and we can arrange to do so.


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