25 Aug 2015

Solid Energy creditors to receive full analysis

4:04 pm on 25 August 2015

The administrators of Solid Energy say creditors will learn more about the state of the company in two weeks.

At that point they will receive a full analysis of the company and an independent recommendation on what to do next.

Solid Energy

Solid Energy Photo: Setford

They will then have a week to decide before a final so-called watershed vote on 17 September.

That vote will decide be on a proposal to sell the assets of the company over two-and-a-half years.

One company, Stephenson, has already expressed an interest in buying some assets, and Chris Baker of the resources lobby group Straterra said more would come forward.

Mr Baker said the mines were profitable when shorn of their debt.

Solid Energy's debts are an unpayable $320 million.