Linc Energy’s UCG plant at Chinchilla … the company has been placed into liquidation with estimated debts of at least $300 million (Photo: Linc Energy)

May 23, 2016

Underground coal gasification company Linc Energy has been placed into liquidation.

A meeting of creditors in Brisbane on Monday voted unanimously to accept the recommendation of administrators PPB Advisory.

It is believed Linc has debts totalling at least $300 million.

PPB Advisory’s Stephen Longley, Grant Sparks and Martin Ford were appointed administrators of the troubled company in April.

In March, Linc Energy was committed to face trial in the District Court on five charges relating to alleged breaches of Queensland environmental legislation linked to its UCG site near Chinchilla.

The Department of Environment and Heritage Protection has alleged Linc wilfully caused serious harm by allowing gases created from the UCG process at its Hopeland site to contaminate nearby soil.

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