Original article by Nick Evans, Perry Williams
The Australian – Page: 13 & 16 : 7-Apr-21
The future of the Whyalla steelworks in South Australia is in doubt after Citibank filed a ‘winding-up in insolvency’ application for the plant’s operator, OneSteel Manufacturing. The application also includes Tahmoor Coal, which operates an associated coal mine in New South Wales. McGrathNicol will become liquidator of the two companies if the Supreme Court of NSW approves the application. British businessman Sanjeev Gupta is trying to secure $500m in new funding for the Whyalla steelworks following the collapse of Greensill Capital, which is the major creditor of his GFG Alliance.
ONESTEEL MANUFACTURING, TAHMOOR COAL PTY LTD, CITIBANK (SWITZERLAND) AG, McGRATH NICOL AND PARTNERS SERVICES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, GREENSILL CAPITAL (UK) LIMITED, GFG ALLIANCE