Latest news with #Port
ABC News
21 hours ago
- Business
- ABC News
Administrators reveal staggering debts of Whyalla Ports with at least $194 million owed
The administrators of Whyalla Ports Pty Ltd have told creditors the company owes at least $194 million, but the true amount is still unclear. Accounting firm William Buck held the first creditors' meeting for the company on Thursday, revealing $25 million was owed to trade creditors with a further $63 million listed as a lease liability. The largest slice is owed to Golding's and its parent company NRW, a key mining contractor, with a secured debt of $106 million. However, administrator Michael Brereton said they were waiting to receive financial records from Whyalla Ports directors. "One of the first things we did on our appointment was to issue a notice to the directors to complete what's called the report on company affairs and property," Mr Brereton said. "That was issued immediately … [and] we have yet to receive those from the directors, so we don't have all the financial information. "[I] think one of the problems they face is that the company operated on the basis that it held the port. "Based on the litigation and the legislation that's been passed, it's become apparent that maybe the company didn't have control of the ports. "So I suspect they're having some problems trying to work through 'What are the financial records of the company?'" In early June, the ports became another casualty in the ongoing fallout since the Whyalla Steelworks was tipped into administration by the state government. The company, Whyalla Ports Pty Ltd, was involved in a Federal Court case launched by Whyalla Steelworks administrators KordaMentha, which wants control of the port so it can sell the steelworks as an integrated asset. Parent company GFG Alliance said when the state government passed new laws to "clarify" that the port was owned by OneSteel, it was left with "no option" but to push the port into administration. KordaMentha has since abandoned the legal action it began. However, a counterclaim from GFG Alliance is still being pursued over the ownership of some assets. During today's meeting, Mr Brereton said a lease agreement between OneSteel and Whyalla Ports was terminated on March 27. "The company was not trading on our appointment," Mr Brereton said. "The company was dispossessed of all its plants and equipment at that time and its right to provide services to customers." One Whyalla creditor, who wished to remain anonymous, previously told the ABC they were owed between $100,000 and $200,000 by Whyalla Ports. They said they feared they may never receive the money due to the dispute over the port's ownership. CEO of Sudel Industries and creditor Kevin Moore said he was owed roughly $20,000 from Whyalla Ports. "Basically, I've already written that money off. I don't think we'll see it." Although the paperwork has not been filed, it is understood that the company will more than likely apply for a deed of company arrangement (DOCA) at its next meeting.
Scottish Sun
2 days ago
- Sport
- Scottish Sun
Former Champions League winners announce first ever renovation of 50,033-seater stadium as roof is completely replaced
Other upgrades are being made in preparation for a major sporting event Port to call Former Champions League winners announce first ever renovation of 50,033-seater stadium as roof is completely replaced Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) EUROPEAN giants Porto have announced plans for changes to their iconic Estádio do Dragão. The stadium first opened in 2003 at a cost of £107million (€125m) and remains an architectural landmark among global sports venues. Sign up for Scottish Sun newsletter Sign up 2 Porto have announced they will be undertaking major stadium works on the Estádio do Dragão Credit: Reuters 2 A whole new roof is included in the plans Credit: Getty However, Porto have announced that for the first time ever the stadium will be having some major TLC. A club statement explained the stadium infrastructure had suffered from natural wear and tear, while the advancement of technology in the 22 years since its opening also played a part in the decision. The main areas of improvement would focus on the infrastructure, technology and services of the venue. It said: "One of the most beautiful stadiums in the world of football must have spaces and equipment at the level required, the blue and white members and fans will be able to enjoy more and better experiences from next season. READ MORE IN FOOTBALL GROUND TO A HALT Abandoned 34,500-seater stadium tipped to host Euro 2028 games lands £50m "Following the commercial partnership established with Ithaka - which involves revenue and operating costs associated with ticketing, corporate hospitality, naming rights and other sponsorship contracts associated with the stadium, the Museum, visits and the organisation of non-sporting events, as well as other opportunities for generating revenue, present or future, related to Dragão - FC Porto has defined three axes of intervention: infrastructure, technology and services." The plan is to carry out the works during pre-season of the 2025/26 and 2026/27 campaigns in order to minimise the impact on the sporting season. Long term, this update will make the ground ready to host the World Cup when the famous tournament visits Portugal in 2030. Works have already been ongoing for a few weeks, with club boxes being modernised along with the fan common areas like the toilets and bars. BEST ONLINE CASINOS - TOP SITES IN THE UK Next summer will see the club tackle the creation of new hospitality areas in an effort to "completely transform the hospitality and VIP services" on offer at the 50,033-capacity stadium. A new central kitchen, autonomous bars, a new lighting system and a complete renovation of the roof are on the agenda for infrastructure works. Liverpool owners plot takeover of LaLiga club after they part-destroy iconic stadium ahead of stunning rebuild The coming changes will also see the stadium modernised with all ticketing transactions to be done without having to go to a physical store, while FC Porto will also be launching its own platform alongside this. All tickets, ranging from season ticket renewals and sales back to the club, will also be able to be carried out digitally. This will be implemented as early as next month. Porto are the second most successful club in Portuguese football with 30 league titles, only behind Benfica's tally of 38. Their last title arrived in 2022, before Gonçalo Ramos inspired Benfica to the 2023 title and Ruben Amorim built his Sporting Lisbon squad into a title-winning force over the last two seasons. Porto are also two-time Champions of Europe, having won the Champions League in 1987 and 2004 - the latter of which sparked the career of a certain Jose Mourinho into life. They missed out on Champions League football last season, and only made it to the Europa League league knockout phase as they ended the season without major silverware for the first time since 2021. However, they did still win the Portuguese Supertaça, or Super Cup, after coming from 3-0 down to beat Sporting Lisbon.
The Advertiser
2 days ago
- Sport
- The Advertiser
'Yeah, that's us': Ken hopes Port getting on a roll
Buoyed by a sharper energy at training, Port Adelaide feel like they are ready to launch. The Power (6-7) have a massive home game against Sydney this Saturday as their AFL season continues to sit on a knife's edge. They have won their last two games, but are two games outside eighth spot and a woeful percentage means that gap is effectively three matches. Over the last few years, when Port have made finals it has come on the back of late-season runs. In 2024, they won eight of their last nine in the regular season before reaching a preliminary final. Coach Ken Hinkley is seeing signs that something good is brewing again at Alberton. "You get some certain things in your game that you go 'yeah, that's us'. Then we play like that, we're a really hard team to beat," he said on Wednesday. "Our players have a little bit of that in them at the moment. "We have to make everything happen in the right way, as we possibly can, from here on in. But we have a bit more confidence. "When you have confidence in your group, you can actually be hard to stop. We have had a history of being able to get on a few runs and we desperately need to get on one." Out of their mid-season bye, Port have beaten GWS and Melbourne. Hinkley said the break had been a circuit breaker and paid credit to their senior players for never giving up belief. Crucially, Hinkley has noticed a better energy at training. "At that point of the year (the bye), things can drop pretty quickly or they can bounce for us," he said. "Luckily enough, our group have decided, you know what? We're still in this and we want to have a real crack at it." Hinkley expects star onballer Jason Horne-Francis to play against the Swans after he hurt his shoulder in the Melbourne win. "He's a really competitive player, clearly, and he probably needs his arms and shoulders to be working pretty well," Hinkley said. "So we're hopeful he'll play this week." But Sydney are set to regain Errol Gulden and Tom Papley from injury and Hinkley said they would "significantly" change the Swans. "We saw last week when Jase came back into our side, you get your top end ... injuries are really, really important to team success," Hinkley said. At the end of his weekly media conference, Hinkley was asked about Power board member Warren Tredrea and his statements in a document submitted to the Federal Court. The ex-Power captain claimed only gold or silver coins could pay his debt to former employer the Nine Network. "Clearly my job is to coach. It's a personal matter and it's not one I want to buy into, in any way, shape or form," Hinkley said. Buoyed by a sharper energy at training, Port Adelaide feel like they are ready to launch. The Power (6-7) have a massive home game against Sydney this Saturday as their AFL season continues to sit on a knife's edge. They have won their last two games, but are two games outside eighth spot and a woeful percentage means that gap is effectively three matches. Over the last few years, when Port have made finals it has come on the back of late-season runs. In 2024, they won eight of their last nine in the regular season before reaching a preliminary final. Coach Ken Hinkley is seeing signs that something good is brewing again at Alberton. "You get some certain things in your game that you go 'yeah, that's us'. Then we play like that, we're a really hard team to beat," he said on Wednesday. "Our players have a little bit of that in them at the moment. "We have to make everything happen in the right way, as we possibly can, from here on in. But we have a bit more confidence. "When you have confidence in your group, you can actually be hard to stop. We have had a history of being able to get on a few runs and we desperately need to get on one." Out of their mid-season bye, Port have beaten GWS and Melbourne. Hinkley said the break had been a circuit breaker and paid credit to their senior players for never giving up belief. Crucially, Hinkley has noticed a better energy at training. "At that point of the year (the bye), things can drop pretty quickly or they can bounce for us," he said. "Luckily enough, our group have decided, you know what? We're still in this and we want to have a real crack at it." Hinkley expects star onballer Jason Horne-Francis to play against the Swans after he hurt his shoulder in the Melbourne win. "He's a really competitive player, clearly, and he probably needs his arms and shoulders to be working pretty well," Hinkley said. "So we're hopeful he'll play this week." But Sydney are set to regain Errol Gulden and Tom Papley from injury and Hinkley said they would "significantly" change the Swans. "We saw last week when Jase came back into our side, you get your top end ... injuries are really, really important to team success," Hinkley said. At the end of his weekly media conference, Hinkley was asked about Power board member Warren Tredrea and his statements in a document submitted to the Federal Court. The ex-Power captain claimed only gold or silver coins could pay his debt to former employer the Nine Network. "Clearly my job is to coach. It's a personal matter and it's not one I want to buy into, in any way, shape or form," Hinkley said. Buoyed by a sharper energy at training, Port Adelaide feel like they are ready to launch. The Power (6-7) have a massive home game against Sydney this Saturday as their AFL season continues to sit on a knife's edge. They have won their last two games, but are two games outside eighth spot and a woeful percentage means that gap is effectively three matches. Over the last few years, when Port have made finals it has come on the back of late-season runs. In 2024, they won eight of their last nine in the regular season before reaching a preliminary final. Coach Ken Hinkley is seeing signs that something good is brewing again at Alberton. "You get some certain things in your game that you go 'yeah, that's us'. Then we play like that, we're a really hard team to beat," he said on Wednesday. "Our players have a little bit of that in them at the moment. "We have to make everything happen in the right way, as we possibly can, from here on in. But we have a bit more confidence. "When you have confidence in your group, you can actually be hard to stop. We have had a history of being able to get on a few runs and we desperately need to get on one." Out of their mid-season bye, Port have beaten GWS and Melbourne. Hinkley said the break had been a circuit breaker and paid credit to their senior players for never giving up belief. Crucially, Hinkley has noticed a better energy at training. "At that point of the year (the bye), things can drop pretty quickly or they can bounce for us," he said. "Luckily enough, our group have decided, you know what? We're still in this and we want to have a real crack at it." Hinkley expects star onballer Jason Horne-Francis to play against the Swans after he hurt his shoulder in the Melbourne win. "He's a really competitive player, clearly, and he probably needs his arms and shoulders to be working pretty well," Hinkley said. "So we're hopeful he'll play this week." But Sydney are set to regain Errol Gulden and Tom Papley from injury and Hinkley said they would "significantly" change the Swans. "We saw last week when Jase came back into our side, you get your top end ... injuries are really, really important to team success," Hinkley said. At the end of his weekly media conference, Hinkley was asked about Power board member Warren Tredrea and his statements in a document submitted to the Federal Court. The ex-Power captain claimed only gold or silver coins could pay his debt to former employer the Nine Network. "Clearly my job is to coach. It's a personal matter and it's not one I want to buy into, in any way, shape or form," Hinkley said.
Perth Now
2 days ago
- Sport
- Perth Now
'Yeah, that's us': Ken hopes Port getting on a roll
Buoyed by a sharper energy at training, Port Adelaide feel like they are ready to launch. The Power (6-7) have a massive home game against Sydney this Saturday as their AFL season continues to sit on a knife's edge. They have won their last two games, but are two games outside eighth spot and a woeful percentage means that gap is effectively three matches. Over the last few years, when Port have made finals it has come on the back of late-season runs. In 2024, they won eight of their last nine in the regular season before reaching a preliminary final. Coach Ken Hinkley is seeing signs that something good is brewing again at Alberton. "You get some certain things in your game that you go 'yeah, that's us'. Then we play like that, we're a really hard team to beat," he said on Wednesday. "Our players have a little bit of that in them at the moment. "We have to make everything happen in the right way, as we possibly can, from here on in. But we have a bit more confidence. "When you have confidence in your group, you can actually be hard to stop. We have had a history of being able to get on a few runs and we desperately need to get on one." Out of their mid-season bye, Port have beaten GWS and Melbourne. Hinkley said the break had been a circuit breaker and paid credit to their senior players for never giving up belief. Crucially, Hinkley has noticed a better energy at training. "At that point of the year (the bye), things can drop pretty quickly or they can bounce for us," he said. "Luckily enough, our group have decided, you know what? We're still in this and we want to have a real crack at it." Hinkley expects star onballer Jason Horne-Francis to play against the Swans after he hurt his shoulder in the Melbourne win. "He's a really competitive player, clearly, and he probably needs his arms and shoulders to be working pretty well," Hinkley said. "So we're hopeful he'll play this week." But Sydney are set to regain Errol Gulden and Tom Papley from injury and Hinkley said they would "significantly" change the Swans. "We saw last week when Jase came back into our side, you get your top end ... injuries are really, really important to team success," Hinkley said. At the end of his weekly media conference, Hinkley was asked about Power board member Warren Tredrea and his statements in a document submitted to the Federal Court. The ex-Power captain claimed only gold or silver coins could pay his debt to former employer the Nine Network. "Clearly my job is to coach. It's a personal matter and it's not one I want to buy into, in any way, shape or form," Hinkley said.
The Advertiser
5 days ago
- Sport
- The Advertiser
Port's odd way to win leaves coach satisfied
For Port Adelaide coach Ken Hinkley, this win was different. Usually when the Power triumph, they're led to victory by a vaunted midfield. But their 25-point home win against Melbourne on Sunday was powered by two key position players. Forward Mitch Georgiades kicked 7.4 and key defender Esava Ratugolea took 13 marks - career-best returns for both. "It's not typically we talk about bookends of the ground, a full forward and a full back, being as dominant as they were," Hinkley said after Port's 14.9 (93) to 9.14 (68) win. "We have typically survived around the midfield group - everyone talks around them." Port's on-ball brigade was still good: Skipper Connor Rozee, in defence and spurts in the midfield, collected a match-high 32 disposals; Jason Horne-Francis had 29 touches; vice-captain Zak Butters gathered 27. But it was Georgiades, who demolished dual All Australian backman Steven May, and Ratugolea who were the difference. "Mitch kicked 7.4 and might not have been best on ground," Hinkley said, "It was really pleasing for Esava, particularly, to play that way. "He has played a really strong year. You can see him grow with confidence. "And then for Mitch to do what he did on a high quality opponent ... that's a big number in the AFL; 7.4 is a really big number now. "It was a different way for us to win when we were strong at both ends of the ground." Hinkley described Ratugolea, who arrived at Port at the end of 2023 after six years at Geelong, as "a little bit of a doubter". "He's the bloke who wants to do everything right by the team, he's such a carer," Hinkley said. "You can see when he occasionally makes a mistake, that he feels that a bit too much - he's just got to let them go. "He's learning to do that much better. So I was just really pleased for him to be that dominant." For Port Adelaide coach Ken Hinkley, this win was different. Usually when the Power triumph, they're led to victory by a vaunted midfield. But their 25-point home win against Melbourne on Sunday was powered by two key position players. Forward Mitch Georgiades kicked 7.4 and key defender Esava Ratugolea took 13 marks - career-best returns for both. "It's not typically we talk about bookends of the ground, a full forward and a full back, being as dominant as they were," Hinkley said after Port's 14.9 (93) to 9.14 (68) win. "We have typically survived around the midfield group - everyone talks around them." Port's on-ball brigade was still good: Skipper Connor Rozee, in defence and spurts in the midfield, collected a match-high 32 disposals; Jason Horne-Francis had 29 touches; vice-captain Zak Butters gathered 27. But it was Georgiades, who demolished dual All Australian backman Steven May, and Ratugolea who were the difference. "Mitch kicked 7.4 and might not have been best on ground," Hinkley said, "It was really pleasing for Esava, particularly, to play that way. "He has played a really strong year. You can see him grow with confidence. "And then for Mitch to do what he did on a high quality opponent ... that's a big number in the AFL; 7.4 is a really big number now. "It was a different way for us to win when we were strong at both ends of the ground." Hinkley described Ratugolea, who arrived at Port at the end of 2023 after six years at Geelong, as "a little bit of a doubter". "He's the bloke who wants to do everything right by the team, he's such a carer," Hinkley said. "You can see when he occasionally makes a mistake, that he feels that a bit too much - he's just got to let them go. "He's learning to do that much better. So I was just really pleased for him to be that dominant." For Port Adelaide coach Ken Hinkley, this win was different. Usually when the Power triumph, they're led to victory by a vaunted midfield. But their 25-point home win against Melbourne on Sunday was powered by two key position players. Forward Mitch Georgiades kicked 7.4 and key defender Esava Ratugolea took 13 marks - career-best returns for both. "It's not typically we talk about bookends of the ground, a full forward and a full back, being as dominant as they were," Hinkley said after Port's 14.9 (93) to 9.14 (68) win. "We have typically survived around the midfield group - everyone talks around them." Port's on-ball brigade was still good: Skipper Connor Rozee, in defence and spurts in the midfield, collected a match-high 32 disposals; Jason Horne-Francis had 29 touches; vice-captain Zak Butters gathered 27. But it was Georgiades, who demolished dual All Australian backman Steven May, and Ratugolea who were the difference. "Mitch kicked 7.4 and might not have been best on ground," Hinkley said, "It was really pleasing for Esava, particularly, to play that way. "He has played a really strong year. You can see him grow with confidence. "And then for Mitch to do what he did on a high quality opponent ... that's a big number in the AFL; 7.4 is a really big number now. "It was a different way for us to win when we were strong at both ends of the ground." Hinkley described Ratugolea, who arrived at Port at the end of 2023 after six years at Geelong, as "a little bit of a doubter". "He's the bloke who wants to do everything right by the team, he's such a carer," Hinkley said. "You can see when he occasionally makes a mistake, that he feels that a bit too much - he's just got to let them go. "He's learning to do that much better. So I was just really pleased for him to be that dominant."
