Treasury could have made more forceful response on Solid Energy, Deloitte says

Tue, 11 Jun 2013

June 11 (BusinessDesk) – The Treasury could have responded more forcefully over concerns about Solid Energy, which is now awaiting a rescue plan from the government and its banks, but the state coal miner’s financial woes don’t signal a failure of monitoring, Deloitte says. The Treasury today released a report it commissioned from accounting firm Deloitte on how well it monitored Solid Energy, which embarked on a debt-funded strategy to morph from a coal miner into a diversified energy business. The strategy was backed by what turned out to b...

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