Celsius Resources rejects loan default claims from Equinaire
- Celsius Resources rejected multiple default notices issued by Equinaire regarding an Omnibus loan and security agreement.
- Equinaire is attempting to initiate foreclosure proceedings and execute a public auction to acquire Makilala Holding’s 40% interest in Makilala Mining.
- Celsius stated that the alleged default events do not satisfy the contractual conditions required to exercise enforcement rights under the agreement.
Celsius Resources (ASX:CLA) responded to legal notices from Equinaire Holdings regarding alleged loan defaults, maintaining that no default occurred under their shared security agreement.
Equinaire claimed that a notice of relinquishment, information-security incidents, and legal protection actions constituted default events under the Omnibus Loan and Security Agreement.
The legal dispute centres on Equinaire seeking to enforce security rights to auction Makilala Holding Limited’s 40% stake in Makilala Mining Company.
Celsius stated that Equinaire lacks the legal capacity to proceed with foreclosure action or force a public asset sale under current contractual terms.
Celsius previously secured a Temporary Order of Protection from the Regional Trial Court of Makati on 27 August 2026 to block Equinaire from auctioning off subsidiary assets.
Following the announcement, the Celsius Resources share price was unchanged at $0.005.
Equinaire initially assumed control of the underlying financing agreement following an assignment of the agreement from Maharlika Investment Corporation.
