Quick Griffin sale ruled out

Finding a buyer for the Collie coal operations of Ric Stowe's Griffin Coal within two weeks was completely unrealistic, administrator Brian McMaster said today.


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Having been recently fried by our pathetic system in a high profile debacle in the Murchison I dont give a stuff much for the bond holders plight and I am not that shattered about entitlements but I do feel very much for all the unsecured small business suppliers to this shamefull hot shot Stowes outfit. What bloody system lets this bloke sit off shore while the local suppliers wear the brunt of his ineptitude. Put simply all operations should should have a statutory requirement to carry insurance for unsecured creditors.

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