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Luvbet.com cease trading

Irish internet bookmaker Luvbet.com yesterday suspended trading after being advised that the firm`s bankers would not guarantee further payment of cheques drawn on the bookmaker`s account.

In a statement on Luvbet.com sole director Gerry O`Halloran said: 'I affirm my committment that all transactions and deposits will be honoured. Due to my current financial embarrassment I am not in a position to state when.'

The statement goes on to say that further information will be posted on the website 'once the situation has been clarified over the next few days.'