This updated article was first published in the October 2017 issue of Governance Directions, the official journal of Governance Institute of Australia.
One of the harbingers of the end of the mining boom in Western Australia was the collapse of the Forge Group in early 2014. Forge Group Ltd (Forge) and the companies associated with it were substantial players in the mining services sector. Towards the end of 2013 Forge went into an extended trading halt arising from concerns about its ability to meet debt covenants. In early 2014 the company announced that it had reached a deal with its bank, ANZ, which would ‘solve the liquidity issues and strengthen Forge Group’s balance sheet’.
Click the link Forging new law in insolvency: Cases and developments by Tom Darbyshire to read the full article, courtesy of the Governance Institute of Australia.
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