UK Coal Operations Limited- in administration- Update

Published at 17:49 PM on 15 July 2013

Further to the statement on 11 July 2013, the administrators of UK Coal Operations Limited moved the Company into creditors voluntary liquidation, in line with the original court order granted with their appointment.

Shortly after their appointment, the liquidators disclaimed the company's interest in the Daw Mill mine.

This was essential given the high risk nature of the site, the substantial liabilities associated with it, and the fact that if the site was not disclaimed, any costs associated with securing and holding the mine would have been an expense of the administration and paid ahead of the dividend to creditors.

ENDS


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