{"id":145933,"date":"2016-05-23T19:41:21","date_gmt":"2016-05-23T09:41:21","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=145933"},"modified":"2020-10-13T17:48:01","modified_gmt":"2020-10-13T07:48:01","slug":"linc-to-be-liquidated","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/05\/23\/linc-to-be-liquidated\/","title":{"rendered":"Linc To Be Liquidated"},"content":{"rendered":"
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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)<\/figcaption><\/figure>\n

May 23, 2016<\/strong><\/p>\n

Underground coal gasification company Linc Energy has been placed into liquidation.<\/p>\n

A meeting of creditors in Brisbane on Monday voted unanimously to accept the recommendation of administrators PPB Advisory.<\/p>\n

It is believed Linc has debts totalling at least $300 million.<\/p>\n

PPB Advisory’s Stephen Longley, Grant Sparks and Martin Ford were appointed administrators of the troubled company in April.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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