There has been a delay in the €3mln settlement IPSA Group (LON:IPSA) is to pay to Ethos Energy Italia (formerly Turbocare).
The settlement agreement was announced on 29 October, and involved the transfer of funds being made by 21 November.
South African power producer IPSA said it is working toward a solution involving bridge funding of the deferred consideration due to the company on the sale of turbines in 2013.
IPSA has committed to pay Ethos Energy an initial sum of €3mln and a further sum of €2.6mln in cash or equivalent value by September of next year.