Administrators have been called in to the holding company behind a NSW coal mine that shut its doors and laid off hundreds of workers earlier this year.
Sanjeev Gupta’s Liberty Primary Metals Australia, which ran the Tahmoor coal mine south-west of Sydney, went into voluntary administration on Monday.
The company closed the mine in February and sacking about 500 workers with pay in October.
About 250 of those, who were contractors, were recently told they will no longer be paid.
The NSW government in August contacted Tahmoor about $29.4 million in unpaid royalties, which is just a fraction of the more than $100 million in outstanding debts owed by the company to its creditors.
LPMA’s parent company GFG Alliance confirmed it had voluntarily appointed Sydney-based accounting firm William Buck as administrator.
“The voluntary administration of our holding company, LPMA, under William Buck is intended to help clear the decks at the corporate level following the forced and unprecedented administration of OneSteel Manufacturing,” GFG Alliance said.
OneSteel Manufacturing was the company behind the Whyalla Steelworks which was forced into administration as it became “irredeemable” under Mr Gupta and owed tens of millions in…