SolarZero liquidators file High Court action against four former directors
Liquidators of SolarZero have initiated High Court proceedings against four ex-directors, alleging breaches of duty that led to massive creditor losses.
Adele Hicks and Malcolm Moore, acting as liquidators for SolarZero, have lodged High Court proceedings targeting four former directors of the firm. The company, placed into liquidation in 2024, provided leased solar power installations to roughly 15,000 subscribers nationwide. The liquidators contend that the directors' actions resulted in commitments the business could not meet, causing substantial losses for creditors.
They highlighted that SolarZero benefited from significant public and private investment before collapsing. Creditors are owed an estimated $476 million, and any successful recovery will be allocated according to schedule 7 of the Companies Act 1993.
Why it matters
The case could recover funds for creditors and set a precedent on directors' responsibilities in failed renewable-energy firms.
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