Embattled Victorian recycling company declared insolvent by Supreme Court

The company at the centre of Victoria's recycling crisis will be wound up after it was declared insolvent in the Supreme Court of Victoria.It earlier warned 400,000 tonnes of recycling could end up in landfill if it went underSKM Recycling owes 15 creditors more than $5 million and afterA liquidator will now be appointed to refund the creditors.Nine other creditors were seeking more than $1.7 million collectively.

Lawyer Michael Gronow QC told last week's court proceedings it was"likely creditors would get zero" if the company was wound up.

Scotty smirking and of course told everyone on seven news last night he will fix the recycling industry. Well here's his chance!

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