Ian Rickuss
May 3, 2017
The liquidators of failed fly ash recycling company Coal Reuse have demanded Stanwell pay them more than $1.7 million.
And according to an ABC news report, the deadline for payment is this Friday.
In February, a document leaked to southburnett.com.au showed that liquidators Rodgers Reidy intended to take legal action against Stanwell to recover $266,734 allegedly owed by the corporation to Coal Reuse.
However, the figure cited by the ABC on Wednesday is far greater: $1,766,734.18.
Rodgers Reidy has alleged that Stanwell should have known in August 2015 that Coal Reuse was insolvent, but continued to use the company anyway, exposing sub-contractors and other creditors to risk.
Former Coal Reuse chairman Rodney Hudspeth has previously denied the company was trading insolvent in June 2015.
However Coal Reuse was liquidated by court order in September last year after a number of its creditors, many of them small South Burnett businesses, filed a winding up order claiming unpaid invoices.
Some of them had not been paid for their services at the Tarong power station and mine for more than a year.
State MP Ian Rickuss, the Member for Lockyer, told the ABC the situation had been caused by “poor management” at Stanwell.
He said an investigation initiated by Stanwell was probing how the contract was awarded to Coal Reuse in the first place.
- External link: Coal Reuse Liquidators Seek $1.7m
Related articles:
- Stanwell ‘May Write Off Debt’
- Stanwell Rejects $3.35m Bailout Proposal
- Stanwell Won’t Pay Coal Reuse Debts
- Good News (And Bad) From Stanwell
- Businesses Told To Stop Trading With Coal Reuse
- Fly Ash Firm In Liquidation
- Fly Ash Contractor Under Fire … Again
- Coal Reuse ‘Sympathises’
- DEHP Investigates Fly Ash Claims
- Application Lodged To Wind Up Coal Reuse
- Work To Start On Fly Ash Plant
- Drivers Toast The Good Times
- Contractor Begins 10-Year Fly Ash Deal
