Latest Financial Distress News

Australian Pacific Coal Limited has applied to set aside a statutory demand for over $1 million, a move that unfolds alongside its recent restart of underground mining at the Dartbrook Coal Mine.

Receivers and Managers have been appointed over Bowen Coking Coal and its subsidiaries following voluntary administration, as the company explores sale and recapitalisation options while maintaining operations.

Australian Pacific Coal Limited has entered receivership over its Dartbrook Joint Venture assets following a senior secured debt default, casting doubt on the value of its 80% stake. Despite holding cash reserves, the company assumes no value in the joint venture amid ongoing financial distress.

Bowen Coking Coal Limited remains suspended from ASX trading following its failure to update on funding and debt plans, compounded by the appointment of voluntary administrators.

Bowen Coking Coal has appointed voluntary administrators after failing to secure fresh capital or negotiate with key creditors, reflecting mounting challenges in Queensland's coal sector. The administration aims to enable a sale or recapitalisation while maintaining operations at its Burton Mine Complex.

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration after a funding request was declined, prompting an expected impairment in MinRes’s FY25 results.

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration, prompting MinRes to prepare for a significant non-cash impairment in its FY25 results. The unfolding administration process raises questions about the future of RDG and its impact on MinRes shareholders.

Resource Development Group Limited has been suspended from ASX trading following the appointment of voluntary administrators, reflecting serious financial distress and regulatory breaches.

Centex Limited and Agriflex Pty Ltd, currently under voluntary administration, have received a Deed of Company Arrangement proposal from PRL Global Limited involving an $8.2 million contribution and a share transfer. Administrators recommend creditors approve the DOCA for better returns and operational continuity.

Australian Pacific Coal faces creditor pressure as Vitol Asia reserves rights on a parent guarantee, while the company insists it remains solvent amid uncertainty.

Openn Negotiation Ltd moves forward with a creditor-approved recapitalisation plan following voluntary administration, while its shares remain suspended on the ASX.

Openn Negotiation Ltd remains under a Deed of Company Arrangement with no operational activity during the September quarter, focusing on recapitalisation efforts following insolvency and voluntary administration.