Originally Posted by
Blackout
If the company was Liquidated when legally, it probably should of been, the Employees would have received their entitlements.
Under Bain , you get 100% of your entitlements (only if it gets voted up), but you can (in all probability) minus 80% from that with the new diminished EA they will be so hot to push through.
So anyone made redundant after the new EA, has effectively been sold out.
Being made redundant or liquidation, (and Jobkeeper is keeping/forcing people from being made redundant), the question is, will FEG and your current EA entitlements be better off in the Liquidation scenario, or, would you be better off voting on this new DOCA with no FEG, and no guarantees for that matter, in the future of your employment?
A) when exactly should it have “legally” been liquidated?
B) Employees get 100% in both the DOCA and, failing that, the Asset Sale Agreement.
C) Why would they lose 80% under a new EA? Are you suggesting new terms would be 20% the current terms? So $60k a year for a 737 captain??
D) Why didn’t you answer Mick above, when he said “Well, buddy, if it's not an error, what is your explanation for how a document dated the 15th includes a reference to another document dated the 16th? Time travel?”
not convenient? Or was it too convenient?