Latest news with #JonesPartnersInsolvencyandRestructuring

9 News

Major environmental not-for-profit Planet Ark goes into administration

Your web browser is no longer supported. To improve your experience update it here LIVE The latest updates on the federal election One of Australia's largest environmental not-for-profits, Planet Ark Environmental Foundation, has been placed into administration by its governing board. The long-time environment and recycling advocacy group was put into voluntary administration after a board review of the organisation's "financial position and future viability". Planet Ark has been advocating for recycling across Australia since 1991. One of Australia's largest environmental not-for-profits, Planet Ark Environmental Foundation, has been placed into administration by its governing board. (Planet Ark) "Voluntary administration provides an opportunity for an independent assessment of the organisation's affairs and to explore potential options for restructuring that will allow the organisation to continue our important work," the board said in a statement. Michael Jones and Bruce Gleeson from Jones Partners Insolvency and Restructuring have been appointed to take the company into administration. "We are deeply grateful for the support of the Australian public, corporate and government partners, and the many schools and communities who have engaged with our work over more than three decades," the board said. "We recognise the importance of the environmental mission we continue to pursue every day and sincerely believe that Planet Ark's contribution to that mission will continue with renewed strength beyond this process." Planet Ark was founded by Jon Dee and Pat Cash in 1991. In a statement this afternoon, Dee, who left the organisation in 2007, said he was disappointed to hear Planet Ark had gone into administration. "I have held longstanding concerns about the direction that Planet Ark took after my departure," Dee said. "I set up Planet Ark so that it could create real and measurable change. "I have reached out to the administrators to arrange a meeting that explores how I can help to restore Planet Ark and secure its future." national environment business climate change CONTACT US