Mr Kanofski, who was appointed Chair of TT-Line as part of a recent restructuring, had earlier said that the company, “has more assets than liabilities,” and that it is continuing, “to work on developing a range of long-term financially sustainable options for the government to consider.”
The insolvency declaration comes as TT-Line Company, which operates under the Spirit of Tasmania brand, continues to face scrutiny over a ferry replacement program beset by delays, cost overruns, and technical issues. As a result, two of the company’s new ferries that were intended to be operational by 2024 are now scheduled to finally enter service in 2026.