Ascent Resources updated the market on the insolvency proceedings of its former Slovenian joint venture partner Geoenergo on Wednesday, confirming progress in its claims to recover funds.
The AIM-traded firm said a Slovenian insolvency court had approved multiple claims submitted by Ascent’s subsidiary, Ascent Slovenia (ASL), though some disputes remained unresolved.
It said the court had approved ASL’s conditional claim of €3.04m for its share of joint venture plant and property, contingent on signing a handover memorandum, which ASL planned to finalise shortly.
Additionally, the court approved €2.7m of a €7.78m claim for revenue owed to ASL from production above a baseline profile, previously recognised in an interim…
