Australian underground coal gasification (UCG) developer, Linc Energy, has gone into voluntary administration, according to a company announcement. Administratiors from PPB Advisory were appointed effective 15 April.
Last month, the company was committed to stand trial over alleged environmental damage caused by its UCG trial in Queensland an accusation the company denies. But an environmental grous has criticised the companys move into administration as an attempt to avoid paying any potential fines from the legal action.
The company at present has a woefully inadequate rehabilitation bond with the Department of Environment and Heritage Protection and by going into administration, it will avoid having to p…
Read the full article at: http://www.worldcoal.com/cbm/18042016/Linc-Energy-goes-into-voluntary-administration-2016-628/