The board of directors of Australian Renewable Fuels (ARFuels), the countrys largest biodiesel producer, has placed the company into voluntary administration.
Under Australian law, voluntary administration is a form of insolvency arrangement, which creates an opportunity for flexible approaches to bring about a better outcome for stakeholders than may otherwise occur in liquidation.
The company cites the recent rapidly declining oil prices and the resultant increasing prices of feedstock, in ARFuels case used oils and fats.
According to a statement from the company, there has historically been a relatively short time lag between falling prices and a reduction in feedstock prices.
At this time, feedstock pricing has increased and the …
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