A full independent report of Solid Energy’s assets has been unveiled to creditors, supporting plans to sell down the company’s assets over the next few years.
The beleaguered state-owned enterprise went into voluntary administration in August, and administrators delivered a full report to the company’s 1500 creditors on Thursday.
The report, which contains an analysis of Solid Energy’s position, supported Solid Energy entering a Deed of Company Arrangement (DOCA) with its creditors.
Solid Energy went into a five-week voluntary administration with two “real outcomes” possible – the Deed of Company Arrangement, or liquidation, administrator Brendon Gibson said.
So will Labour oppose these assets being sold, arguing liquidation instead? A silly notion, but considering they are against any asset sales at all, you have to ask.
The Government owns a number of companies that may be worthless in a decade or less, or face serious competition. They are TVNZ, NZ Post, Kordia, Landcorp etc. We should be selling them while we can – otherwise they might all go the way of Solid Energy.