Priapism,
Hate to rain on your parade but things with Ansett were not as cosy and cut and dried as you have made out.You statement that all employees got their super and quickly seems at odds with this report.
“As you can see this was an extremely difficult and complex situation. As there were five Ansett Superannuation Plans (some with the same directors) there were a multitude of problems to deal with. Whilst the commercial settlement effectively means no more money will be paid into the superannuation funds, had the Trustee not commenced proceedings in 2001, then they would not have achieved a further $39m going directly to their members as cash payments. Other Ansett Superannuation Plan members will share in the balance as well as other Ansett employees who were not members of the five plans”.
“The current insolvency provisions in the Act are inadequate to protect outstanding superannuation entitlements. It is obvious that trust deeds could be amended to make the employer directly liable to fully fund the trust, but if the Act is not amended to firstly recognise this priority and secondly to stop Administrators from varying this priority, then no outstanding superannuation entitlements will be fully protected.”
Apparently Ansett had not made any employer contributions for August and Sept ( obviously up to the time of the collapse) and action had to be taken to recoup those funds.
Priapism,I don’t know what else you think I have got wrong but it doesn’t seem to be the case here does it.