ACB Group (formerly trading as Powerplus Fuels) - Liquidation

ACB Group (formerly trading as Powerplus Fuels), a Melbourne-based chemical company, entered liquidation on 20 December.

The company owns a factory in Derrimut that has caught fire twice in the last two years. The first fire resulted in the death of a 44-year-old factory worker, while the second destroyed the factory and released a toxic cloud of smoke which forced nearby residents to stay indoors for days. 

Matthew Hudson of SV Partners was appointed liquidator and said that the site remains an ongoing fire and environmental hazard and that the company would have to pay for the clean-up of the site before paying creditors, but that he anticipates "a material return for creditors".