Sun Cable enters administration, billionaire investor ‘fully backs’ solar company – 9News

Liquidation

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…

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Chris Bowen optimistic over solar project despite company entering voluntary administration – Sky News Australia

Liquidation

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

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Sun Cable enters voluntary administration pv magazine International – pv magazine International

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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…

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More bankruptcies last year, still historically low – NL Times

Bankruptcy

The number of bankruptcies in 2022 was again historically low. A total of 2,144 companies and institutions, including one-person businesses, were declared bankrupt last year, Statistics Netherlands (CBS) reported based on provisional figures. That is the second lowest number since the start of this statistic in 1981. That is partly because companies still had access…

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Bankruptcy court dismisses revival plan for Ujaas Energy – The Economic Times

Bankruptcy

The bankruptcy court in Indore has rejected the revival plan for listed energy company Ujaas Energy, with the observation that the Committee of Creditors (CoC) cannot extinguish the right of the secured creditor to proceed against the company’s personal guarantor. The ruling will set a precedent for lenders in other cases where dissenting secured creditors…

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NT government downplays Sun Cable’s voluntary administration as list of troubled major projects grows – ABC News

Liquidation

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…

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Bankruptcy court dismisses revival plan for Ujaas Energy – Economic Times

Bankruptcy

The bankruptcy court in Indore has rejected the revival plan for listed energy company Ujaas Energy, with the observation that the Committee of Creditors (CoC) cannot extinguish the right of the secured creditor to proceed against the company’s personal guarantor. The ruling will set a precedent for lenders in other cases where dissenting secured creditors…

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