Linc Energy goes into voluntary administration

Friday, 15 Apr 2016 15:31:04

Linc Energy's headquarters are based in Brisbane. (ABC News)

Oil and gas company Linc Energy has been placed into voluntary administration.

Administrators PPB Advisory has been called in to work with management on options including a possible restructure.

Administrator Stephen Longley said they were focussed on working with Linc to review the company's operations and assets in Australia and the United States

"We are confident that upon completion of this review, we can work towards establishing a deed of company arrangement that has the potential to facilitate a future restructure of the business," he said.

It comes one month after the company was committed to stand trial on five charges relating to breaches in Queensland's environmental laws at its underground coal gasification site.

The state's environment department has accused the company of wilfully causing serious harm at its trial site near Chinchilla on the Darling Downs.

AustraliaPlus

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Linc Energy goes into voluntary administration

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