WPG Resources (ASX: WPG) has a small shareholding in Evergreen Energy Inc, and today updated the market about the impact of Evergreen filing for bankruptcy protection under Chapter 7 of the United States Bankruptcy Code.
WPG regards the bankruptcy filing and liquidation as a very positive development for WPG’s 100% owned Penrhyn coal project in South Australia.
The trustee will be able to sell the K-Fuel patents and other intellectual property unencumbered by claims of third parties and other issues that were flagged by WPG’s in early December 2011.
WPG said that it is reviewing options for participating in this sale process, either alone or in joint venture with others.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/24509/wpg-resources-updates-market-on-evergreen-energy-inc-24509.html
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