17th Nov 2015 11:07
LONDON (Alliance News) - Cambria Africa PLC on Tuesday said Consilium Corporate Recovery Master Fund Ltd has agreed not to file winding up proceedings against the company as the dispute between the two goes on.
Consilium has issued Cambria Africa with a statutory demand in the Isle of Man for the repayment of USD4.8 million pursuant to the terms under the loan agreement between the two companies.
Cambria Africa said it continues to dispute the claim made by Consilium that it has defaulted on the loan agreement and is considering counterclaims against the lender.
Shares in Cambria Africa were down 4.8% to 0.5 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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