Insolvency and Bankruptcy Board of India (IBBI) data shows that, as of September 2022, creditors had realised INR2.43 trillion (USD 29.97 billion) of the INR7.19 trillion claimed through the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (code). Creditors have, therefore, taken an average haircut of 69 per cent. Clearly, the…
Rob McLennan / 12 January 2023 Geelong-based disability services organisation Encompass will move into administration by the end of the week, sparking fears for the livelihoods of hundreds of casual and full time employees. Encompass, which operates homes for people with disabilities across a number of Geelong sites and provides a range of NDIS support…
Climate Change and Energy Minister Chris Bowen remains optimistic over the Sun Cable solar project despite the company entering voluntary administration. Plans to build the worlds largest solar farm in the Northern Territory could be scrapped after a fallout between the Sun Cables billionaire investors. Read the full article at: https://www.skynews.com.au/australia-news/politics/chris-bowen-optimistic-over-solar-project-despite-company-entering-voluntary-administration/video/e55ad170d87e8d7bad278e1f9f4675de
Sun Cable, the company proposing a multi-billion-dollar solar power export project, has entered voluntary administration. The company, which boasts high-profile investors including billionaires Mike Cannon-Brookes and Andrew “Twiggy” Forrest, said it had made the “difficult decision” to enter administration but has appointed new voluntary administrators. “The administrators intend to work with the company’s management team…
Sun Cable, the developer of the worlds largest solar and battery project, has entered voluntary administration. It is still unclear what this will mean for its hallmark project, the Australia-Asia PowerLink. January 11, 2023 Bella Peacock Image: Australia-Asia PowerLink From pv magazine Australia Australian renewables startup Sun Cable has entered voluntary administration after what it…
The Northern Territory government is downplaying concerns about the future of the$30 billion Sun Cable project, after the collapse of the company behind what would be the world’s largest solar farm. Key points: The Sun Cable project would see power from a massive solar farm near Tennant Creek exported to Singapore The company says funding…
The Sun Cable clean energy venture entered into voluntary administration on Wednesday following a clash between two of Australia’s richest men. The $30 billion project aimed to create the worlds largest solar farm in the Northern Territory to power Darwin and export clean energy through the Australia-Asia Powerlink (AA Powerlink). However, an argument between two…
One of Australias largest renewable projects backed by prominent billionaires Andrew Twiggy Forrest and Mike Cannon-Brookes has collapsed. Renewable giant Sun Cable had proposed to build a $35bn solar farm in the heart of the Northern Territory, with a cable to provide green energy to Darwin and Singapore. On Wednesday, the company confirmed it had…
Live A company planning the worlds largest battery and submarine cable as part of a plan to export Australian solar power to Singapore has collapsed into administration. Sun Cable, backed by billionaires Andrew Forrest and Mike Cannon-Brookes, said on Wednesday it made the difficult decision to enter voluntary administration in the hopes of unlocking extra…
The Sun Cable project a multi-billion dollar initiative to export solar power from Australia to Singapore has entered voluntary administration. Chairman of the project, Mike Cannon-Brookes, says the board ultimately failed to reach a consensus on the future direction and funding structure of the company. Mr Cannon-Brookes, along with mining billionaire Andrew Forrest, were the…