Administrators reveal staggering debts of Whyalla Ports with at least $194 million owed

Michael Brereton, Sean Wengel and Rashnyl Prasad of William Buck, the administrators of Whyalla Ports, have told creditors the company owes at least $194 million to its creditors, including $25 million to trade creditors, $63 million listed as a lease liability and a secured debt of $106 million to Golding's and its parent company NRW. The administrators are still waiting to receive financial records from Whyalla Ports directors, who are suspected to be struggling to figure out the company’s financial records given that the company operated on the basis that it held control of the port.

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