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…
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…
Sun Cable, the developer of the worlds largest solar and battery project and backed by two of Australias most powerful energy players Andrew Forrest and Mike Cannon-Brooks has entered voluntary administration. It is not yet clear what this will mean for the companys hallmark project, the Australia-Asia PowerLink, though the companys executives appear optimistic. January…
Jan 11 (Reuters) – Singapore-based clean energy start-up Sun Cable said on Wednesday it will enter voluntary administration, and appointed administrators to oversee the steps forward. The firm, chaired by Australian software mogul Mike Cannon-Brookes, said consensus on the future direction and funding structure of the company could not be achieved. (Reporting by Harshita Swaminathan;…
Sustainability Don’t miss out on the headlines from Sustainability. Followed categories will be added to My News. 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…
Why you keep seeing these sad-looking bikes around your city as company’s second attempt to crack the tricky Aussie market fails dismally Mobike Australia has gone into liquidation after a second attempt in Australia The company was founded in China in 2015 by a former technology journalist About 1600 of the firm’s bikes are abandoned…
LegalPay, which is the countrys largest litigation funding platform, has launched Interim Financing Bonds that will allow retail investors to participate in a segment that is largely seen as an arena only for the high-net-worth individuals (HNIs). These bonds are fixed-income instruments to finance the expenses of companies undergoing Corporate Insolvency Resolution Process (CIRP). Retail…
A construction firm in Queensland has collapsed owing $7 million and leaving nearly 50 projects unfinished. LDC Pty Ltd, based in Brisbane, went into liquidation on Friday and becomes the first casualty in the construction industry in 2023. The company owes creditors and subcontractors $7.03 million, the Courier Mail reported. Liquidator Bill Karageozis, of Mcleods…
LegalPay, a third-party litigation funder and interim financier said it has launched interim financing bonds where retail investors can invest through its platform with a minimum investment of Rs 10,000 and earn high-yielding returns. The tech-based fintech firm, which also invests in commercial litigations and insolvent companies, said that the first-of-its-kind bonds are fixed-income instruments…
Major Queensland building company LDC has become the latest in the field to enter voluntary administration, with creditors owed more than $7 million. The home builder went into liquidation on Friday. The construction industry has been rocked by a number of company collapses in recent months, with a skills shortage, high materiel costs and a…