Australian Pacific Coal has entered voluntary administration, with McGrathNicol’s Shaun Fraser and Jonathan Henry taking control of the company and several subsidiaries after a board resolution. The administrators will conduct an urgent review of the group’s financial position, while the company’s shares remain suspended and creditors are being notified of a first statutory meeting set for early September.
The appointment does not affect the ongoing sale process for the Dartbrook Mine, which continues under the management of existing receivers. The outcome of the administration and parallel asset sale will be closely watched by shareholders and creditors, as it will shape the future of the company’s operations and recovery…