The secured assets in the US state of Kentucky have substantial value
White's present intention is to seek board approval to instruct its lawyers to start foreclosure proceedings to recover the outstanding indebtedness if payment is not forthcoming.
White Energy chief executive Greg Sheahan said US-based MCC remains indebted to White Energy to the sum of US$1.74 million from the sale of Mountainside Coal. "Following advice from our lawyers …...
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