Sparks, in the matter of IG Energy Holdings (Australia) Pty Ltd (Administrators Appointed)

COURT OR TRIBUNAL

Federal Court of Australia

DATE FILED (OR FIRST HEARING DATE)

21/04/2023

LITIGATION TYPE

Corporate Accountability

SUBJECT MATTER

Corporate form

REVIEW TYPE

N/A

SUMMARY

“The Callide Power Station, located at Biloela, is one of Queensland’s major power stations. It is a coal-powered electricity generator comprised of two power plants, Callide B and Callide C, each of which has two generating units. At Callide C, those units are referred to as units C3 and C4. On 25 May 2021, the turbine of unit C4 suffered a kinetic disintegration that resulted in an explosion. Following that, unit C4 went offline and ceased exporting power to the grid. It has remained offline since. About 18 months later, on 31 October 2022, part of the unit C3 cooling tower suffered a significant structural failure. As a result, it went offline as well. It also has not yet resumed electricity production. Callide C is operated by an unincorporated joint venture between the first defendant, IG Power (Callide) Ltd (IGPC), and Callide Energy Pty Ltd (CEPL). CEPL is wholly owned by CS Energy Limited (CSEL), which is ultimately owned by the Queensland Government. Pursuant to a Joint Venture Agreement dated 11 May 1998 (as amended over time), IGPC and CEPL each had a 50% interest in the business operations. Needless to say, the cessation of the two power units has caused substantial loss to both". These proceedings relate to the appointment of special and general purpose receivers to conduct investigations into the failures at the Callide C plant. The application for appointment of special purpose receivers was brought by Sev.en, a financier in IGPC.

CASE DOCUMENTS

Court file
Sev.en Gamma a.s. v IG Power (Callide) Pty Ltd (Administrators Appointed) [2024] FCA 30
Sparks, in the matter of IG Energy Holdings (Australia) Pty Ltd (Administrators Appointed) [2024] FCA 613
Sparks, in the matter of IG Energy Holdings (Australia) Pty Ltd (Administrators Appointed) (No 2) [2024] FCA 648