The company that wanted to blaze a trail for a new potash industry in Australia may have traded insolvent for two weeks and withheld important information from investors when raising funds, according to a report into the collapse of Salt Lake Potash.

The findings were made by special purpose administrator Dermott McVeigh, who added that his investigations into Salt Lake Potash were “hindered” by a lack of co-operation by most directors of the failed company.