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DARK days are ahead for the hundreds of workers still left at Queensland Nickel’s Yabulu Refinery as the company goes into voluntary administration.
FTI consulting announced this morning that Queensland Nickel directors had appointed John Park, Stefan Dopking, Kelly-Anne Trenfield and Quentin Olde from the firm as voluntary administrators.
The Directors of Queensland Nickel have advised the appointment of the administrators from FTI Consulting was made after full consideration of Queensland Nickel’s obligations and its duties to ensure it acts in the best interests of employees, creditors and other stakeholders.
It comes as a restructure of the Yabulu refinery was announced on Friday and 237 workers were retrenched.
FTI Consulting Leader Australia, Corporate Finance & Restructuring John Park said their aim was to give the company the best chance of be able to continue to trade,
“We will undertake an urgent assessment of the financial position and ongoing viability of the company and its business operations,” he said.
“No significant changes to the company’s trading operations are anticipated in the immediate term.
“As Administrators, we will act independently at all times, although we will work with Queensland Nickel management and staff in continuing to operate the business.”
Creditors are expected to be updated at a meeting later this month.
This article first appeared on www.townsvillebulletin.com.au
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