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Linc Energy to go into liquidation
Monday, 23 May 2016 10:07:38
A Linc Energy underground coal gasification plant at the centre of contamination claims.
Troubled oil and gas company Linc Energy is to be wound up after creditors unanimously voted to place it into liquidation.
The company went into administration last month after it was committed to stand trial on five charges relating to environmental breaches at its Chinchilla underground coal gasification site, north-west of Brisbane.
Former employees are amongst the 155 creditors who are owed $320 million.
PPB Advisory liquidator Grant Sparks said he has five potential businesses interested in buying Linc's assets.
They have until June 10 to make final bids.
During a committal hearing earlier this year, it was alleged that fugitive gases from the site - including carbon monoxide, hydrogen and hydrogen sulphide - polluted a widespread area of up to six metres underground.
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