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Alliance News


San Leon Energy Says It Will Defend Against Wind Up Petition

Fri, 10th Nov 2017 18:31


LONDON (Alliance News) - San Leon Energy PLC said Friday that it intends to defend against a court petition seeking to wind up the company.

A petition has been issued by the Dublin high court to wind up the company by the reason of the company failing to discharge its outstanding liabilities to Avobone.

Avobone has sought to change the terms of an agreement extending the payment of balance of sums, demanding that the company provides further security, according to San Leon.

San Leon said it has already provided security for repaying outstanding liabilities and can see no reason for Avobone's actions given the imminent payment expected to Avobone of all outstanding sums.

Trading in San Leon shares remain suspended.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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