MetalNRG plc (“the Company”) announces that further to the High Court’s written judgements in the Company’s application for summary judgement against BritEnergy Holdings LLP and BritNRG Ltd, the first and third defendants (together the “Defendants”), in its action for recission of certain contracts and restitution, the deadline for the Defendants to make payment to the Company in the sum of £1,122,961.85 (which includes interest awarded and interim costs recovery) was 4.00pm yesterday (26th October 2022) (the “Payment Deadline”).
The Company has this morning received the second payment of £250,000 mentioned in the previous release and therefore a total of £500,001 has been received, the Defendants are currently in default in the sum of £622,960.85.
As previously announced the Company will today issue statutory demands for the unpaid balance, as a measure to protect its and its shareholders interests, and if such balance is not paid in full by the Defendants (with such additional interest as may accrue), will proceed to petition for the winding up of, or administrators appointed over, the Defendants on grounds of insolvency.
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Contact details:
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MetalNRG plc Rolf Gerritsen |
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Corporate Broker |
+44 (0) 20 7469 0930 |
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Corporate Broker |
+44 (0) 1483 413500 |
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