A 50/50 joint venture between Natural Fuel Limited and Babcock & Brown Environmental Investments (B&B Environmental) has entered voluntary administration.
Two representatives of Ferrier Hodgson have been appointed as voluntary administrators of the joint venture, called Natural Fuels Australia — a separate entity to Natural Fuel — after B&B Environmental withdrew funding support, according to a statement from Natural Fuel.
B&B Environmental has chosen not to extend the September 30, 2008, repayment date for Natural Fuels Australia’s secured loan to its partner.
Natural Fuels Australia, and its subsidiary Natural Fuel Darwin, own and operate the biodiesel production facility in Darwin.
