Andrew Forrest-run fund pushes solvency and governance concerns, warns of liability risks
The fight between Andrew Forrest's Wyloo and ASX-listed rare earth element developer Hastings Technology Metals continues to rumble along, with Wyloo now demanding to know how an estimated A$220 million liability will be repaid next October.
Default noticeEarlier this week, Wyloo issued a notice of default claiming Hastings had breached its obligations by entering into the new debt agreement with Equator Capital Management, a company founded by Lew two decades ago.The former investment banker is said to have "exited active management" of Equator in 2018 but still owns around 34.4%. He originally guided Equator's investment in Hastings back in the day, with the group still owning around 3.8%.
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