Freight & Trade Alliance (FTA) and the Australian Peak Shippers Association (APSA) have received the following notice from ACFS executive.
Tuesday 25 August 2026
Dear Customers and Partners,
There have been developments on the administration since late last week that are worth noting here. While I can't speak for the Administrators or Receivers, I can talk to you about how these developments relate to business operations and our own recapitalisation plans.
Administration duration
Late last week, the Administrator announced its application to the court to extend the typical five-week administration process. ACFS Port Logistics Australia is a large and complicated business, and more time is required to complete a thorough process.
For our customers and partners, this means:
a. The process will likely take longer - but;
b. That is a good thing when leading to an outcome where all debts are paid in full, and
opportunities are realised to make the business stronger through the process.
c. Any extension by the Administrators is not a reflection on the recapitalisation process being undertaken by the Tzaneros family. More on that below.
However long this process needs to take to ensure the best outcome for creditors and the business, we are cooperating fully to ensure the Receivers and Managers have everything they need.
Meanwhile, the business continues to deliver every day. We have had no reported disruptions due to the administration process since new accounts for some supplier partners were established on the first full working day following entering administration, on 7 August.
Tzaneros loans to ACFS
As ACFS Port Logistics Australia creditors have been made aware, a significant portion of this business's creditor debts is to Tzaneros interests via loans or trading amounts. Documents provided by the Administrators show $98m in outstanding loans to various Tzaneros interests. Tzaneros-related businesses are also owed $26.5 million.
This information is important context for the administration. It is not unusual that family interests would loan funds across businesses. In this case, our broader family interests have provided capital to assist with historical strategic investment opportunities, and with long-running broader market challenges and compounding issues with debts owed to ACFS that led to this administration.
While these debts make Tzaneros interests the single largest creditor in this process, our priority is on ensuring all third-party creditors - including all secured and unsecured creditors - will be paid in full under a Tzaneros recapitalisation, without any request for reduction. We are uncompromising on this point.
Our recapitalisation process is progressing well. We have already reached term sheet approval on a portion of the recapitalisation requirements.
Please call me if you have any questions on this matter. In the meantime, we'll keep moving the ships and cargo, and will continue to share updates here and directly.
Kind regards,
Terry Tzaneros
Managing Director
ACFS Port Logistics