Projection technology company Digislide (ASX:DGI) has confirmed it expects to settle court action seeking a winding up of the company.
The company said the Commonwealth Bank of Australia (ASX:CBA) has today lodged a summons for the winding up of Digislide.
But Digislide has lodged a settlement proposal to the lawyers acting for the CBA, and expects the matter to be withdrawn today.
Digislide is reportedly in overdraft to the Commonwealth Bank, but has received funds from its shareholders to help pay this off.
The assurance failed to prevent a 20% decline in DGI shares to $0.120 today, after news broke of the court action.