Solid Energy placed in administration, orderly break-up proposed

Thu, 13 Aug 2015

By Pattrick Smellie Aug. 13 (BusinessDesk) - State-owned coal miner Solid Energy has been placed in voluntary administration by its board of directors, allowing it trade on under a deal with creditor banks that will see its assets sold over the next 2 1/2 years. Today's announcements had no detail about the impact on some 800 Solid Energy employees, although it promised worker entitlements were safe and would be paid out on time, as would payments to trade creditors. Two partners of accounting firm KordaMentha, Brendon Gibson and Grant...

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