Hayden White

Shareholders in uranium miner Paladin Energy will end up owning just 2 per cent of the company under a recapitalisation plan that will include a major debt for equity swap and a $US115 million high yield secured note raising.

ASX-listed AnaeCo has gone into administration after Monadelphous Group terminated an $11.5 million contract with the waste technology company and a Chinese enterprise.

King & Wood Mallesons Partner Nathan Collins, who was involved in the debt restructuring of troubled uranium miner Paladin Energy, says the deal, which left existing shareholders with a 2 per cent stake, was the only real option for the company.

Administrators were today appointed to two entities in Berrington Care Group, which operates aged care facilities in Subiaco and Como.

Fifteen businesses have expressed an interest in buying Berrington Care Group, an aged care provider which went into administration earlier this month, while residents consider options for nearly $125 million of deposits.

Aged care and retirement living provider Bethanie has acquired Berrington Care Group's Subiaco and Como centres, which it expects to operate early next year. The sale comes five months after Berrington went into administration.

The liquidators of Brierty have launched Supreme Court action to recover millions of dollars from 12 companies they claim received payments while the civil and mining contractor was insolvent.

The man at the centre of a $126 million alleged betting scandal has been placed in bankruptcy by the Federal Court, forced to represent himself amid what he described as a “media frenzy”.

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.

Drilling and equipment supplier Schramm Group has brought in voluntary administrators less than two weeks after an employee was fatally injured at the company's workshop in Welshpool.

Receivers from FTI Consulting have been called in to manage Rivet Mining Services, the Perth-based subsidiary of contracting business Rivet Group.

Swedish multinational Epiroc has bolstered its ranking as one of WA’s largest mining services companies, after coming to the rescue of local manufacturer Schramm and saving 80 jobs in the process.

The Federal Court has approved a six-month extension sought by administrators of collapsed miner Panoramic Resources as they examine the dozens of expressions of interest to buy.

Australian Potash has announced it exited administration yesterday, with its directors fully back in control of the company.

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.

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.