IN BRIEF: Capricorn Energy shares down following Waldorf judgment
Capricorn Energy PLC - Egypt-focused oil and gas explorer - Says it notes judgment handed down on Tuesday on the Waldorf Production UK PLC's restructuring plan. Following a "contested hearing" in June, the High Court has refused to sanction the restructuring plan. Capricorn reiterates that it is owed USD29.5 million in liabilities by Waldorf, but says that a full recovery "remains unlikely due to Waldorf's financial position". The liabilities relate to a sale & purchase agreement from 2021, which was later amended in 2023. Capricorn says it continues to consider its position on the matter, in conjunction with its legal advisers. Read More