LNG Ltd. Plan Approved
Australian Court Approves LNGL Recapitalization, Asset Sale Options (Kallanish)
July 10: Parties interested in recapitalizing or acquiring assets from Australia’s Liquefied Natural Gas Limited must do so by July 24. The company’s administrators got approval from the Supreme Court of Victoria to proceed with the Stage 2 Process to either recapitalize the company or sell its assets. The Magnolia LNG project in Louisiana to a privately held New York energy firm for $2 million. Its major remaining asset is the planned Bear Head LNG project in Nova Scotia in eastern Canada.