A winding up petition has been issued against African Eagle Resources PLC (“African Eagle”) by its former chairman Euan Wothington who resigned from his position on 24 April 2012.
African Eagle’s flagship asset is the Dutwa Nickel Laterite Project, a nickel exploration and development in northern Tanzania and has a number of gold and copper projects in Tanzania and Zambia respectively.
Mr Wothington claims that he is owed more than £57,000 by African Eagle. The petition is listed to be heard on 29 July 2013. If a winding-up order is made by the court this could have serious repercussions for African Eagle, as they will be placed into an involuntary (compulsory) liquidation.
African Eagle wishes to contest the petition and is currently taking legal advice.