AgCert, the Dublin carbon credits firm that is in examinership with debts of €90 million, is set to be saved following a major agreement with AES Corporation, the multinational power group.
Under the proposed rescue package, AES has agreed to write off about €20 million that it is owed by AgCert and to commit a further €7 million to pay off other creditors.
The US multinational will then take full control of the Dublin company, which sought High Court protection from its creditors in February. The firm’s shares were subsequently suspended on the Alternative Investment Market in London....MORE
From Forbes:
XL Techgroup says Agcert assigns all patents, IP to group
TechGroup Inc. said AgCert International Plc. has assigned all of its patents and patent applications, together with certain other intellectual property to XL TechGroup.
The company said AgCert has the right to buy back all of the assigned IP for $7.9 million plus interest and costs by Jan. 4, 2009....MORE
