B&B Environmental Investments’ joint venture in administration
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.
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.