Bowen Coking Coal Ltd (ASX: BCB), a company focused on developing a portfolio of high-quality coking coal projects in Queensland’s Bowen Basin, today announced it has received a creditor’s statutory demand from BUMA Australia Pty Ltd. The demand, received on July 16, 2025, is for $6,818,017.28, which forms part of a larger claim of $15,288,017.28 (including GST) for which Bowen Coking Coal received a demand for payment earlier in the week.
The amount claimed in the statutory demand considers liquidated damages that Bowen Coking Coal is claiming against BUMA. These damages are currently subject to an ongoing dispute between the two companies. Bowen Coking Coal is currently evaluating its options and seeking a commercial resolution to BUMA’s claims. The company is actively engaged in discussions with BUMA, but no agreement has been reached yet.
According to the Corporations Act 2001 (Cth), if Bowen Coking Coal fails to pay the demanded amount within 21 days of receiving the demand, it will be considered an event of insolvency. This would then entitle BUMA to apply to wind up Bowen Coking Coal, unless Bowen Coking Coal files an application to set aside the statutory demand within that 21-day period. Such an insolvency event would also constitute a breach of the company’s existing debt facility agreements.
The Bowen Coking Coal board has authorised the release of this announcement. The company remains committed to seeking a resolution with BUMA. Further updates will be provided as necessary.
