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MetalNRG PLC - London-based investor in natural resources and energy - Says it received on Thursday a second payment of £250,000 from BritEnergy Holdings LLP and BritNRG Ltd for the recision of certain contracts and restitutions.
This brings the total received to £500,001, which means both companies are in default to the value of £622,960, as they were ordered by the High Court to make a total payment of £1.2 million to MetalNRG by Wednesday.
MetalNRG will now issue statutory demands for the unpaid balance. If it does not receive these, it will petition for the winding up of the companies, or "defendants", on grounds of insolvency.
Current stock price: 0.082 pence, up 13% on Thursday in London
12-month change: down 80%
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