Australian Pacific Coal (ASX:AQC) received notification from the agent for the secured creditor, Vitol Asia, stating that it continues to reserve its rights on calling on the parent company guarantee, according to a Friday Australian bourse filing.
Australian Pacific requested a six-month standstill agreement on the guarantee before receiving this notice.
Vitol Asia Pte affirmed in talks with the firm that it does not presently plan to call on the guarantee, although it is not entering a standstill agreement or providing a waiver to that effect.
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