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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 $29.5 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.
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