Latest Creditors News

Adslot Technologies, the troubled subsidiary of Adslot Ltd, has gained creditor backing to execute a Deed of Company Arrangement, aiming to satisfy non-related creditors while maintaining group control of its technology platform.

Triangle Energy (ASX:TEG) and its key subsidiaries have appointed a voluntary administrator amid financial pressures linked to offshore decommissioning obligations. The move follows similar steps by related operators and signals ongoing regulatory and creditor negotiations ahead.

Unith Ltd is set to raise $2.75 million through a share Placement and a pro rata Entitlement Offer, alongside converting $500,000 of debt to equity. The capital injection aims to accelerate its AI digital human technology and business growth.

Pilot Energy Limited and its subsidiaries have appointed voluntary administrators after failing to secure necessary funding or a strategic partner for their Cliff Head Carbon Storage Project. The company’s shares remain suspended on the ASX as administrators review options to preserve stakeholder value.

QPM Energy Limited and its subsidiaries have entered voluntary administration with McGrathNicol appointed as administrators and FTI Consulting as receivers over key gas-producing entities. The move aims to stabilise operations and explore restructuring options amid ongoing financial distress.

Bowen Coking Coal's entire shareholding and options have been transferred to Argo Bowen 2 following a court-approved Deed of Company Arrangement, marking a key step in the company’s restructuring.

Pacific Nickel Mines continues mining at Kolosori under Glencore finance while progressing a conditional sale of its Solomon Islands assets to Green Rock Limited.

DGR Global is sharpening its focus on copper and gold exploration in Queensland and Ecuador while pursuing a potentially lucrative damages case linked to Armour Energy's liquidation. The company also plans a share buy-back to unlock shareholder value.

Li-FT Power Ltd. has obtained a binding call option to acquire the Renard diamond mine site or its owning companies, aiming to repurpose its processing infrastructure for lithium production. The deal hinges on Canadian court approval and involves a significant option fee and care commitments.

Credit Clear's subsidiaries ARMA and Force Legal are defending allegations by the ACCC of Australian Consumer Law breaches related to debt collection communications over a three-year period.

HiTech Group Australia has tabled a conditional $15 million offer to acquire selected assets and employees from Hudson Global Resources, targeting the UpperGround business. The deal hinges on creditor approval, regulatory clearance, and financing, with payments structured across upfront, conditional, and deferred components.

Adslot Technologies, the wholly owned subsidiary behind Adslot's Marketplace platform, has appointed a voluntary administrator due to financial strain from its clearing house revenue model. The platform's operation now shifts to a fee-only basis under Adslot Limited.