LNC 0.00% 99.5¢ linc energy ltd

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  1. 2,192 Posts.
    source;
    http://www.couriermail.com.au/busin...y/news-story/f20d24d003e0a820ef3da16c662371c4

    THE criminal case against the zombie company, Linc Energy, is likely to go ahead undefended after directions were made in the Supreme Court on Monday. Linc is in liquidation but is facing five charges of causing wilful and serious environmental damage at its underground coal gasification project at Chinchilla. Justice Debra Mullins directed that the liquidators do not have to offer a defence of Linc because it would not be in their interest or that of the creditors to face the huge cost of doing so.
    This all raises the question of why the State Government is continuing to pursue the company in the first place when there is nothing left to recoup.
    A Government spokesman said companies cannot avoid accountability simply by entering liquidation and the department would pursue action where necessary and appropriate.

    It all smells like if Linc doesn't pursue damages then the government will drop its case.
 
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