Hastie Group has said it is no longer operating under the standstill arrangements with its banks. After completing the recapitalisation of the company, the recently agreed syndicated debt facility arrangements with its banks have become fully operational, providing funding until 2014 and 2015. Carrie LaFrenz

Linc Energy is facing a lawsuit in the United States after ERG Resources disputed the grounds for Linc scrapping a $US236 million ($218 million) acquisition of some of ERG’s fields in Texas and Louisiana. ERG is seeking an order requiring Linc to proceed with the deal or pay $US75 million in damages. Linc said it would defend the suit if it is served. Angela Macdonald-Smith