ION missed rent at offices in Australia, Germany, US

ION Investment Group missed rent payments at offices in three countries this year, triggering an eviction notice in Sydney, restricted building access in Munich and a landlord lawsuit in Connecticut.

The unpaid sums were about $90,000 in Sydney and roughly $40,000 in Munich. The Munich access restriction occurred in July and lasted several weeks. The Connecticut landlord filed a suit in May; that legal action has been withdrawn. ION said the outstanding rent for the Sydney and Munich offices has been paid.

In Sydney a landlord issued an eviction notice after the office fell behind on rent. In Munich employees were unable to enter the building for weeks over unpaid charges. In Connecticut a landlord alleged a company subsidiary did not pay rent and refused to vacate the premises.

ION operates more than 50 offices worldwide and has grown through acquisitions including Fidessa, Openlink Financial, IT2, Financial Software Systems, Wall Street Systems and Dash Financial Technologies. The firm carries an estimated $10 billion of debt and faces questions about how artificial intelligence could affect demand for some of its products.

ION issued a statement describing commercial disputes with landlords as routine for a company with a large property footprint and said the matters were resolved in the ordinary course of business. The group added: “Any suggestion that these matters bear on the group’s financial position is unsupported by the facts.”

The company continues to operate its trading, treasury and financial software businesses across multiple jurisdictions while it addresses property and legal matters.