Head of Corporate Finance and Restructuring in Australia, FTI Consulting
| Role | Organisation | Sources |
|---|---|---|
| Head of Corporate Finance and Restructuring in Australia | FTI Consulting | Startup Daily, RenewEconomy (20 Jan 2023), RenewEconomy (13 Jan 2023), RenewEconomy (12 Jan 2023), RenewEconomy (11 Jan 2023), SmartCompany |
| Administrator | Ellume Health | SmartCompany |
Stories naming John Park. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Atlassian's cofounder, through his family firm Grok Ventures, has extended a $65 million interest-free loan to administrator-run Sun Cable, which is up for sale after a founder split; Grok earlier co-led its $210 million Series B.
Sun Cable's administrators held a first creditors' meeting and sought interim funding while preparing the company for sale, with Forrest and Cannon-Brookes likely bidders and Iberdrola and Macquarie possible contenders.
The energy minister plays down Sun Cable's move into voluntary administration as a structural change, insisting its Australia-Asia PowerLink will proceed, while co-backers Cannon-Brookes and Forrest have reportedly fallen out.
Solar developer Sun Cable has entered voluntary administration after its two major backers failed to agree on funding, with FTI Consulting appointed and a recapitalisation or sale flagged as likely.
Ellume's Australian operations have entered voluntary administration, with FTI Consulting appointed administrators; the US business continues. The Brisbane diagnostics maker earlier raised $5 million and won a big US government supply contract.
Also Startup Daily