It's been almost a decade since a "premium" fly-in, fly-out tourism development was first proposed for an area inside Tasmania's wilderness World Heritage area.

Now the company behind the Lake Malbena heli-tourism proposal has been placed into liquidation before it could welcome a single paying guest, and while it continues to push for Commonwealth environmental approval.

The Federal Court appointed liquidators for Wild Drake Pty Ltd on Wednesday after the Wilderness Society submitted a winding-up application — the process where a company's outstanding matters are finalised, its assets liquidated, and it ceases to exist as a company, unless the order is overturned.

Prior to the winding-up hearing, Wild Drake committed to paying $18,000 in court costs owed to the Wilderness Society and Tasmanian National Parks Association from a 2021 Supreme Court appeal.

The company paid the debt after the hearing, which it did not participate in. The Wilderness Society then proceeded with its application, with the court ordering the company be "wound up in insolvency" and a liquidator appointed.

Calls to end company's lease over wilderness island

It's the latest hurdle for the proposal, which first emerged in 2015 under the state government's controversial "expressions of interest" process for tourism in national parks, and received approval by the Morrison government in 2018.

It then faced multiple court appeals, public campaigns by bushwalking, fly-fishing and environmental groups; and the proposal remains under consideration by federal Environment Minister Tanya Plibersek.

The Tasmanian Greens are now pushing for the state government to end Wild Drake's lease on Halls Island in Lake Malbena, where it plans to place a standing camp.

The lease is due for renewal on October 1.

Greens upper house member Cassy O'Connor questioned whether the lease should be cancelled.

Tasmanian environment minister Nick Duigan said he would allow the liquidator to complete their work, and would take advice from his department.

"This, of course, involves a process that is currently being worked through with no determination as yet being made," he said.

"The proponent has 21 days from the day of the court order to request that the application be overturned.

Nine-year debate over wilderness tourism

The proposal involves flying guests — earlier suggested to cost $4,500 each for three nights — by helicopter to an area of exposed rock near Lake Malbena, which sits within the Walls of Jerusalem National Park in the state's central north.

Guests would then walk to the lake, and travel by boat to Halls Island to stay at a standing camp.

Opposition has centred on whether the presence of the helicopter harms wilderness values, how it could affect wedge-tailed eagles, and questioning the granting of a lease in a national park to a private developer.

Ms Plibersek is continuing to consider the proposal, and in November, set her decision for 30 days after Wild Drake provides requested additional information.

That process appears to have stalled in 2024.

Daniel Hackett, of Wild Drake, said the Commonwealth approval process would continue.

Wilderness Society Tasmania campaigns manager Alice Hardinge said they would continue to oppose the development in any way possible.

"The outstanding universal values of the Tasmanian Wilderness World Heritage Area must be protected from the Lake Malbena development proposal and from the state government's parks privatisation agenda," she said.