Cleanaway takes over SKM amid Victoria's recycling rubbish crisis

Australia's largest garbage company buys $60m of debt, aiming to get SKM 'back to capacity'

The garbage company Cleanaway has taken effective control of most of the Victorian recycling group SKM and says it wants to stem the state's rubbish crisis.

Cleanaway said it had paid about $60m to the Commonwealth Bank to buy out the bank's position as SKM's major lender and had appointed Mark Korda and Bryan Webster as receivers to run the business.