Breaking: ASIC drops case against Liberty Bell Bay smelter as buyer sought
It was alleged Liberty Bell Bay's former owner, British billionaire Sanjeev Gupta's GFG Alliance, had failed to lodge financial returns for numerous years. The company then went into administration, and ASIC has dropped its legal case.
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ASIC drops case against Liberty Bell Bay manganese smelter as search for buyer continuesPBy Paddy ManningTopic:Courts7h ago7 hours agoThu 30 Apr 2026 at 1:53amLiberty Bell Bay, in northern Tasmania, is in administration and faces an uncertain future. (ABC News: Mitchell Woolnough)In short:Corporate regulator ASIC had taken Liberty Bell Bay's former owner, GFG Alliance, to court, seeking to wind up the business over alleged failures to lodge financial returns.The owner was placed into administration, and ASIC's action has now been dropped with the agreement of the administrators.What's next?The ABC understands administrator Ernst and Young has welcomed the discontinuation of the legal proceedings, as it removes a hurdle to finding a buyer for Australia's only manganese…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).