Connect with us

Local News

Hume MP throws support behind Tahmoor Mine as liquidation threat looms | Southern Highland News

Published

on


news, local-news,

SIMEC Tahmoor Coking Coal is in even further danger of closing with new legal action against its British billionaire owner putting scores of jobs on the line. Citibank, acting on behalf of Credit Suisse, is taking Sanjeev Gupta to court in an attempt to wind up two of his operations – OneSteel Manufacturing and Tahmoor Coal. If successful, the move could trigger the appointment of liquidators to the Tahmoor coal mine, which employs more than 400 largely local Wollondilly staff, as well as to the Whyalla steelworks in and its associated mines in South Australia, which employ more than 1800 workers. Credit Suisse is trying to recoup some of the money it is owed by breaking up Mr Gupta’s Australian assets. The legal…



Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

Suspension extended & GM’s position to be re-advertised
The forgotten heroes of the Far East Strategic Reserve deserve proper recognition | Town & Country Magazine