The last payment from the Ozjet Airlines P/L Deed of Company arrangement have been posted out.
For those who posted here and elsewhere that a Deed of arrangments would be a quicker and better payer than the Federal Governments GEERS system, a couple of points on this affair.
Speed of payment.
Ozjet into administration on the 20th of May, 2009.
Employee entitlements paid on 15th of Feb, 2010 -8 months later!!
Quantity of payment.
Wages, Days in Lieu, Superannuation and Annual Leave/Loading PAID IN FULL.
5.95% of any payment in lieu of payment and all Redundancy CANNOT BE PAID.
IE:
Those (under the pilot's award) with 1 - 2 years service 4 WEEKS cannot be paid.
Those with 2 - 3 years of service 6 WEEKS cannot be paid.
Those with 3 - 4 years of service 7 WEEKS cannot be paid.
Unfortunately I doubt that this will be the last company to go broke, for those who may be involved in the future it would pay to look at the figures if there ever is a vote on a DOCA.