Jeremy Nipps on insolvency trends: early distress in WA’s mining and construction sectors
Early distress in mining
Jeremy noted that while mining remains a key driver of WA insolvency appointments, the ability for companies to secure or raise capital is becoming increasingly complex. This is leaving some operators cash-flow-constrained,with outcomes often shaped by asset quality and shareholder confidence.
Notable matters
Two recent resource sector appointments were among Jeremy’s most significant:
- Copper Resources Australia – appointed due to mine underperformance and processing setbacks, with administrators closing out a DOCA proposal from Austral Resources.
- Walkabout Resources – an ASX-listed graphite miner requiring administrators to navigate Tanzanian law.
Supporting remote communities
Jeremy also outlined the unique challenges of the Cocos Island Co-operative— the largest employer in the Cocos Keeling Islands. His team restored the co-op to a cash-flow-positive position, invested in critical contracts, and secured funding for essential capital works.
Construction sector pressures
While mining matters featured prominently, Jeremy noted that construction continues to lead WA’s insolvency numbers, driven by inadequate cash flow,trading losses, and legacy liabilities.
Conclusion
From complex cross-border matters to regional community enterprises, Jeremy’s recent appointments demonstrate Cor Cordis’ ability to navigate varied jurisdictions, restore operational stability, and deliver outcomes for creditors and stakeholders.
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