London’s High Court has determined that JP Morgan must cease its legal action against the directors of the Greek-based fintech Viva Wallet.

In January, JP Morgan initiated a lawsuit in Athens, targeting Viva’s CEO and three other board members, seeking an EU 916 million (USD 1.1 billion) payout to recover the value of its investment in Viva.

In response, Viva’s primary shareholder, Werealize, along with the company’s directors, petitioned for an anti-suit injunction in London to block JP Morgan from pursuing the case in Greece. The court granted the request based on a breach of the shareholders’ agreement between JP Morgan and Werealize.

More Details Regarding JP Morgan’s Legal Challenge Against Viva Directors

According to Reuters, Werealize’s spokesperson urged JP Morgan to engage in constructive dialogue about Viva’s future. The spokesperson noted that the financial institution should now step back and allow Viva to continue its development. However, JP Morgan maintained that many of Werealize’s arguments, particularly those regarding the Greek lawsuit being oppressive, were rejected by the court. The bank stated it would continue to pursue its legal course, citing unresolved matters before the courts.

This legal challenge was initiated in early 2025 over allegations that Viva Wallet’s CEO and three executives had acted unlawfully to deprive JP Morgan of the value of its investment made in 2022. Reuters reported that officials at Viva Wallet confirmed these lawsuits, describing them as acts of intimidation without providing further details.

In 2022, JP Morgan acquired a 48.5% stake in Viva Wallet for approximately USD 800 million, a move intended to support businesses across southern Europe. At the time of the investment, Werealize held the remaining 51.49%. The agreement specified that Werealize would lose its veto rights over any JP Morgan offer to take control if Viva’s value was below EUR 5 billion by July 30, 2025.