KordaMentha

Collapsed lithium miner Alita Resources has entered a binding $70 million loan agreement with China Hydrogen Energy, three months after the company went into administration.

Alita Resources has repaid $US32.5 million ($A47 million) to its major shareholder and creditor Galaxy Resources, which confirmed today it would not pursue its planned acquisition of the lithium miner. 

The Australian subsidiary of Spanish engineering contractor Duro Felguera has been placed into voluntary administration after becoming mired in multiple legal disputes related to construction of the Roy Hill iron ore project.

Businesses in the hospitality, tourism and retail sectors are holding out for COVID-19 restrictions to lift, as a majority of turnaround professionals believe these businesses won’t be able to survive more than three months if the shutdown continues.

One of WA’s largest construction groups has avoided a dispute over allegedly defective building work after arguing the work was undertaken by an entity in liquidation.

Perth-based lithium producer Altura Mining has been placed in receivership after the ASX-listed company was unable to refinance its debt, placing 100 jobs at risk.

Pilbara Minerals has lodged a $US175 million bid for fellow lithium miner Altura Mining, though Altura is working on its own recapitalisation plan after being put in receivership.

Pilbara Minerals has moved closer to gaining control of Altura Mining’s key asset after striking a $US175 million agreement with the lithium miner’s receivers and managers.

Pilbara Minerals has launched a $240 million equity raising to fund its acquisition of Altura Mining’s Pilgangoora lithium project.

Property mogul Luke Saraceni has had a win in his defamation case against the receivers of his $500 million Raine Square development.

Receivers have been appointed to Salt Lake Potash after the embattled business was unable to repay creditors and raise further funds needed for its Lake Way project in the Goldfields.

One of the first movers in potash has run into trouble, but backers remain bullish about the emerging industry.

Salt Lake Potash’s Lake Way project, which was predicted to be one of the first producing potash assets in the state before its collapse last year, has been put on the market by receivers.

At least seven potash plays plan to produce the fertiliser from sun-dried brine or solar-dried ponds.

Sev.en Global Investments has bought the Lake Way project from the wreckage of Salt Lake Potash.

ASX-listed Perth contractor Aerison Group has called in administrators just over a month after failing to settle a $47 million dispute with iron ore miner Roy Hill Holdings.

Aerison Group creditors will have an urgent meeting to discuss a bid from APCINFRA after a proposed arrangement with Pacific Industrial Company fell through.

Administrators have been appointed to diamond dealer Macabi Diamonds owned by Yoni Levy who saved prominent jewellery store Rosendorff from receivership in 2019.

A deal to pluck Perth Glory Football Club out of receivership has collapsed after the Victorian consortium eyeing the club failed to meet certain conditions.

The assets of Kingman Signs and Graphics, which produced signage for customers including Optus Stadium and Crown Towers, will be sold by administrators for less than $200,000.

A famed Kimberley pastoral operation and owner of northern WA’s only large abattoir has fallen into the hands of administrators and is allegedly millions of dollars in debt.

The signwriting company behind major WA signage jobs including Optus Stadium has been placed in liquidation, a little over three years after it was sold by its founders into new hands.

Administrators of Yeeda Pastoral Company have received a time extension for the next creditors meeting, after finding the Kimberley business was $103 million in debt.

Administrators of Yeeda Pastoral Company will enter another funding agreement to preserve the substantial cattle herd, the Supreme Court of Western Australia has heard.

ASX-listed Pilbara goldminer Calidus Resources has been handed over to receivers and administrators, with contractor Macmahon revealing a $34 million contract exposure.

Administrators of Abra Mining have secured a $10 million funding to avoid cutting jobs or suspending the Gascoyne lead mine operation.

A local hospitality operator has purchased the asset for $4.6 million, via administrators KordaMentha.

A mothballed Kimberley abattoir has been thrown a $56 million lifeline by a Canadian government-backed fund which would value the plant at a fraction of its former price.

Renowned prospector Mark Creasy has secured the blessing of creditors in collapsed miner Calidus Resources to revive the Warrawoona goldmine operator.

The East Rockingham Waste to Energy plant has been handed over to administrators and receivers with an eye to sell the nearly completed project, which remains embroiled in a legal dispute.

KordaMentha administrators have taken control of Nicheliving’s construction division, less than a month after the company's directors agreed to a decade-long ban on building homes.

Creditor claims of more than $740 million have piled up against the taxpayer-backed East Rockingham waste-to-energy plant, including from Acciona and National Australia Bank.

Administrators at the East Rockingham waste-to-energy plant succeeded in getting a significant time extension to prepare a sale but fell short of their proposed nine-month period.

Suitors have entered the data room for more than a dozen property developments of embattled builder Nicheliving, as administrators look to sell-off assets.

West Perth-based lithium explorer Lepidico has called in administrators from KordaMentha, who intend to start a sale or recapitalisation of the business soon.

Premier Roger Cook has insisted under-fire Nicheliving still can’t lay a brick after the directors cleared a vote to regain control of the building company yesterday.

Mining services contractor Aerison is slowly rebuilding after being bought out of administration last year but its ownership remains unclear.

Jules Pemberton-led NRW Holdings has delayed the release of its half-year results, which were due to be released on Thursday.

Jules Pemberton-led NRW Holdings has provided a market update regarding its mining services at the Whyalla steelworks in South Australia.

Spanish engineering giant Acciona has dumped French multinational Veolia from a contract to run WA’s largest and most expensive waste management facility at Kwinana.