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Old 28th Feb 2014, 23:48
  #38 (permalink)  
Oakape
 
Join Date: May 2007
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Since ANZ is now so profitable perhaps they would like to pay back the $millions to the Aussie taxpayer and travelers who had to pay out the Ansett workers redundancy payments after ANZ walked away from their obligations.
Sorry, but the taxpayer & travellers didn't pay a cent to the Ansett workers. The government 'lent' the money to the receivers to immediately cover the statutory entitlements & then took first dibs at any money raised by the receivers to pay the 'loan' back. They then put ticket tax in place to cover any shortfall if the receivers didn't raise enough cash. However, the receivers ended up paying the entire amount back, so the government put the ticket tax money into general revenue.

Neat cash grab, with the Ansett workers as the fall guys. And the bulk of the Australian public thinks that they paid for the Ansett worker's entitlements to this day! By the way, the receivers fell short in their asset sales & Ansett workers did not receive all the money they were entitled to under the various wages agreements.
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