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Old 23rd Mar 2004, 11:01
  #305 (permalink)  
WhoopWhoop Whoops
 
Join Date: Jun 2002
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Sorry to hear about the problems at EAAC.

The following may be of interest to the ex crew looking for cash and compensation.

The advice comes from an old accountant friend of mine who specialises in dealing with CVA's, receiverships, etc.

1. Get a group together and say, put in £40 each.

2. Get a lawyer to write to the company with the requirement that they pay up on wages and redundancy or you will IMMEDIATELY apply to the court to have the company wound up.

3. This will do either of two things,

a) The company will go into receivership.

or

b) They will pay you

If you wait and do nothing you are likely to get 10% or less and possibly nothing at all.

If it goes into receivership you will get redundancy.

A hard choice but the only way to get the EAAC bosses to sit up and do something is to put down a legal stop to whatever they are planning. They will have to respond.

The alternative is to write your losses off, which is of course what they are hoping.

There must be some money in the company or it would already be in receivership.

Best of Luck.
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