trending Market Intelligence /marketintelligence/en/news-insights/trending/6JreS54Kt6Kuu9gRQ5Hlvw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Supreme Court sets aside demand for Stonewall to repay A$6.3M loan

Blog

Essential Metals & Mining Insights – February 2021

Blog

Top electric vehicle markets dominate lithium-ion battery capacity growth

Blog

Message in a (Word)Cloud

Blog

Essential Metals & Mining Insights - January 2021


Supreme Court sets aside demand for Stonewall to repay A$6.3M loan

The Supreme Court of New South Wales in Australia has ordered that the statutory demand received by Stonewall Resources Ltd., for the repayment of the loan and associated interest totaling about A$6.3 million, to be set aside.

The company received the statutory demand from Australian Private Capital Investment Group (International) Ltd., or APCIG, in mid-May.

Under the loan agreement, APCIG committed a A$5 million loan, but advanced only A$4 million, resulting in an agreement that the total principal and interest would accrue up to a limit of A$5 million.

The company said Aug. 14 that it will make the payment, comprising A$3.3 million cash and A$1.7 million in Stonewall shares, within seven business days of Stonewall receiving the arbitral award from Shandong Qixing Iron Tower Co. Ltd.