Brian Wyatt, currently the general manager of the Baralaba Mine, will act as interim CEO of Cockatoo Coal at the end of Kane's employment.

“The Deed Administrators express their sincere appreciation to Peter Kane for his valuable contribution to Cockatoo Coal during the period of the voluntary administration and deed administration and wish him every success in the future,” they said in a statement.

The date by which the conditions must be satisfied before the Deed of Company Arrangement is put in to effect has been further extended by agreement between Liberty Metal & Mining Holdings and the Deed Administrators.

The extension date is 27 May 2016.

There are a number of conditions that must be satisfied before the DOCA can be effectuated.

The following conditions remain unsatisfied: the release of the security held by each secured creditor other than LMM; Cockatoo by its directors is unconditionally permitted to drawdown the New Debt Facility to raise the Deed Funding Amount; LMM gives notice to the Deed Administrators that it is satisfied no assets have been disposed of other than in the ordinary course of business; and the Creditors’ Trust Deed is executed.

“The Deed Administrators further note that they have now made distributions to employees of Cockatoo Coal that have been made redundant since the appointment of the Administrators,” they said. “This distribution pays these employees their entitlements in full.”