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Trista Rose
Western Australia needs a formal transition plan to meet its 2035 thermal coal exit date
Elliott Management Corporation, the infamous U.S. based vulture fund manager, has hired law firm Corrs Chambers Westgarth “to control the destiny of the Bluewaters Power Station”. Advisory and investment firm KordaMentha has also been reportedly retained by other debtholders to restructure the troubled company. The 466 megawatt (MW) Bluewaters Power Station is jointly owned by […]
IEEFA
The West Australian: Indian group Lanco Infratech has escaped a $200m payment linked to its disastrous purchase of the Griffin coal mine as part of a confidential settlement of one of [Western Australia’s] biggest commercial court cases. The settlement late last year coincided with insolvency firm KordaMentha flagging a final distribution of about $80m to […]
Tim Buckley
Government Regulators Are Doing Nothing to Protect the Public Interests in Lanco Infratech’s Handling of Griffin Coal Mine
In reporting a net loss of US$40 million for the year to March, Lanco Infratech of India, owner of the loss-making Griffin Coal Mine in Western Australia, has notched up its fifth consecutive year of losses. The performance only compounds the clear and ongoing state of financial distress for this Indian conglomerate. Net debt rose […]
IEEFA
Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal (pdf)
IEEFA
Briefing note: The outlook for financing for Australia’s Galilee Basin coal proposals By: Tom Sanzillo, IEEFA Director of Finance
IEEFA
By Daniel Mercer, The Weekend West Australian – “Fears are mounting about the plight of a Collie mine that supplies coal to one of the State’s biggest electricity generators after it posted one of its biggest losses. Griffin Coal, the Indian -owned mine bought from the wreckage of former tycoon Ric Stowe’s failed business empire […]
IEEFA: American vulture funds prepare to feast on Australia’s Bluewaters Coal Power Station
Western Australia needs a formal transition plan to meet its 2035 thermal coal exit date
Elliott Management Corporation, the infamous U.S. based vulture fund manager, has hired law firm Corrs Chambers Westgarth “to control the destiny of the Bluewaters Power Station”. Advisory and investment firm KordaMentha has also been reportedly retained by other debtholders to restructure the troubled company. The 466 megawatt (MW) Bluewaters Power Station is jointly owned by […]