Aurizon Holdings (ASX:AZJ) said that it is owed about AU$50 million in service fees from its customers Centrex (ASX:CXM) and OneSteel Manufacturing, according to a Tuesday filing with the Australian bourse.
The amount covers services provided by Aurizon, including rail transport of phosphate rock for Centrex and iron ore for the GFG group's OneSteel Manufacturing, the filing said.
Aurizon confirmed that the administrators are continuing to operate the businesses and that the company expects to be paid for the services provided from Feb. 19 by the administrators, the filing added.
The company holds security over assets from both customers and is working with administrators to enforce security interests and recover outstanding amounts while maintaining services.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.