'Precarious' Solid Energy in banks' hands; govt considers options

Mon, 03 Aug 2015

By Pattrick Smellie Aug. 3 (BusinessDesk) - Liquidation of state-owned coal company Solid Energy "cannot be ruled out" but is "not the number one preferred option of the government," says Prime Minister John Key, who confirmed the beleaguered company was discussed today at Cabinet as its banking syndicate grapples with its commercially dire prospects. "It's in a precarious position," said Key, who expected there could be an announcement on its future "in the next few weeks." Sale of individual parts of the business was a possibility, a...

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