There’s been a receiver swap at the bankrupt electricity interconnector and the freshly appointed FTI Consulting has chalked in September to cap off the sale.
There’s been a receiver swap at the bankrupt electricity transmission cable Basslink Interconnector, and the freshly appointed FTI Consulting has chalked in September to cap off the sale.In a courtroom kerfuffle last month, Basslink’s new secured lender APA Group succeeded in replacing then Basslink receiver KPMG, appointed when the group was funded by a bank syndicate, with FTI’s dealmakers.
If Basslink’s worth more than its debts, owner Keppel Infrastructure could see some returns. Either way, it’s expected to be left nursing hefty losses. Tyrekickers are sure to ponder AEMO’s move to take control of the national electricity market, and try to work out what that means for power flows in and out of Tasmania. The early read is that it will put a dampener on volumes.
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