{"id":170412,"date":"2017-02-20T16:57:35","date_gmt":"2017-02-20T06:57:35","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=170412"},"modified":"2020-09-22T15:12:33","modified_gmt":"2020-09-22T05:12:33","slug":"stanwell-may-write-off-debt","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/02\/20\/stanwell-may-write-off-debt\/","title":{"rendered":"Stanwell ‘May Write Off Debt’"},"content":{"rendered":"
\"Tarong<\/a>
Stanwell Corporation, the operators of the Tarong and Tarong North power stations, may face legal action despite a plan to write off Coal Reuse debt<\/figcaption><\/figure>\n

February 20, 2017<\/strong><\/p>\n

Coal Reuse allegedly owed Stanwell Corporation – operators of the Tarong North and Tarong power stations – just over $251,000 at the time it went into liquidation last year.<\/p>\n

However, according to documents sighted by southburnett.com.au<\/strong>, Stanwell does not plan at this stage to chase after the money.<\/p>\n

“We are mindful of the apparently limited prospects of recovery by creditors in the liquidation of Coal Reuse,” a letter states.<\/p>\n

The list of creditors includes former Coal Reuse employees as well as smaller business and trade creditors.<\/p>\n

“We do not wish to further dilute the prospects of recovery by those creditors,” the letter states.<\/p>\n

“Therefore, while Stanwell has previously indicated … our intention to issue invoices … at this time we will not be seeking to recover payment of those invoices from Coal Reuse Pty Limited.”<\/strong><\/p>\n

However, this will probably not be be the end of the power generating corporation’s involvement with Coal Reuse, the company it signed up to a 10-year deal in 2014 to remove fly ash, cenospheres and other coal waste products from its power stations.<\/p>\n

Another document seen by southburnett.com.au<\/strong> indicates Coal Reuse liquidators Rodgers Reidy intends to take legal action against Stanwell to recover $266,734 allegedly owned by the corporation to Coal Reuse.<\/p>\n

Other claims raised include that Coal Reuse was allegedly trading insolvent from as early as June 2015, a position denied by former Coal Reuse chairman Rodney Hudspeth.<\/p>\n

Mr Hudspeth’s Notesan Pty Ltd is listed as one of Coal Reuse’s creditors, allegedly owed more than $376,000 by the failed company.<\/p>\n

Another possible creditor listed is the Commonwealth Superannuation Fund which claims it is owed $275,000 in connection with a warehouse at Pinkenba. This is believed to be a warehouse where Coal Reuse stored unsold cenospheres from Tarong.<\/p>\n

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