Entyr Ltd (ASX:ETR) and various subsidiaries - Voluntary Administration

Entyr Ltd (ASX:ETR) and various subsidiaries, a Stapylton, Queensland clean energy company which converts end-of-life tyres into sustainable, clean energy, entered voluntary administration on 15 April.

This marks the second voluntary administration for the group, which was previously placed under the control of former administrators Richard Hughes and Travis Anderson of Deloitte in March 2024.

DOCAs were executed and control transitioned to senior lender Avior Capital following the satisfaction of initial conditions precedent. However, final conditions precedent — specifically the passing of various resolutions at a general meeting of Entyr relating to a share restructure — remained to be satisfied.

The meeting was originally scheduled to convene by 31 June 2024, but was subsequently extended on a number of occasions given the ongoing processes required to finalise legal and procedural steps following the receipt of reinstatement conditions from the ASX. Now, Avior has decided to place the companies back into administration, with Jason Tracy and Stephen Edds of Alvarez & Marsal appointed as administrators.