Govt won't let Solid Energy fail, looks to banks to wear their share

Thu, 21 Feb 2013

By Pattrick Smellie Feb. 21 (BusinessDesk) - Solid Energy will remain trading during a "difficult two or three months" while the company, its bankers and the government find a way to keep a smaller, coal-only business alive. At a press conference in the Beehive, Finance Minister Bill English said the government was not injecting any funds into Solid Energy at present and had offered no formal government guarantee, but also that "we will not let it go into receivership." English said Solid Energy would continue to be able to pay suppliers and...

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