Administrators of collapsed renewable energy company ZEN Energy will only be able to claw back 10 cents in the dollar of money owed to secured creditors in the best-case scenario, a new report reveals.
The latest McGrathNicol report shows the Adelaide company co-founded by well-known identity Ross Garnaut, owed $1.1 billion to creditors as of June 30, 2026. But in the best-case scenario, administrators hope to be able to claw back only $45 million from the business’ assets, leaving a massive shortfall for all creditors.
ZEN’s 60 employees, which rank as priority creditors, were expected to have their $8 million in entitlements (annual leave, long service leave, redundancy payouts) paid in full if the business goes into liquidation.