Ex-Ansett employees get more cash
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Ex-Ansett employees get more cash
AAP
Ex-Ansett employees get more cash
December 10, 2003
THOUSANDS of former Ansett workers will receive more of their outstanding entitlements from tonight.
Ansett administrators Mark Korda and Mark Mentha today said they would start transferring redundancy payments at midnight tonight to former Ansett staff from the $150 million entitlement settlement reached last month.
In what they believe is Australia's largest-ever insolvency distribution, the administrators said dividends raised from the sale of Ansett assets and businesses would be electronically transferred into the bank accounts of ex-employees.
The Federal Court last month approved the entitlement settlement, ending a two-year dispute between the administrators and the trustees of a staff superannuation fund.
To date workers have received an average of 52 cents in the dollar, with 12,000 of the former airline's staff still owed a total of $220 million.
The settlement will take the average payment to 71 cents in the dollar.
"Following settlement of the case, our immediate, single-minded focus was on payments before Christmas," Mr Korda said.
"Considering the size and complexity of the distribution, our aim was to commence paying people by Christmas, with the bulk of payments completed by the end of January.
"We expect to make payments to more than 90 per cent of Ansett employees who are owed further entitlements immediately."
AAP
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Some good news for the Ansett crew- now you can apply for
a Virgin credit card.
Wirraway
Ex-Ansett employees get more cash
December 10, 2003
THOUSANDS of former Ansett workers will receive more of their outstanding entitlements from tonight.
Ansett administrators Mark Korda and Mark Mentha today said they would start transferring redundancy payments at midnight tonight to former Ansett staff from the $150 million entitlement settlement reached last month.
In what they believe is Australia's largest-ever insolvency distribution, the administrators said dividends raised from the sale of Ansett assets and businesses would be electronically transferred into the bank accounts of ex-employees.
The Federal Court last month approved the entitlement settlement, ending a two-year dispute between the administrators and the trustees of a staff superannuation fund.
To date workers have received an average of 52 cents in the dollar, with 12,000 of the former airline's staff still owed a total of $220 million.
The settlement will take the average payment to 71 cents in the dollar.
"Following settlement of the case, our immediate, single-minded focus was on payments before Christmas," Mr Korda said.
"Considering the size and complexity of the distribution, our aim was to commence paying people by Christmas, with the bulk of payments completed by the end of January.
"We expect to make payments to more than 90 per cent of Ansett employees who are owed further entitlements immediately."
AAP
===========================================
Some good news for the Ansett crew- now you can apply for
a Virgin credit card.
Wirraway
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Great news,
I'll be checking the bank account first thing tomorrow.
Does anyone out there know exactly how many cents in the dollar will be paid. I heard M and K talking on a T.V show , they said 42 cents in the dollar on what is owing. Great I thought, however this apparently dependent on a few things ; ie if you wre in the ground staff super fund , how long your service was etc.
I am starting to smell a rat . Is the 42 cents in the buck a real figure or a misleading statistic ?
Time will tell I guess , but if anyone out there is seriously in the know could you please reply to this post
I'll be checking the bank account first thing tomorrow.
Does anyone out there know exactly how many cents in the dollar will be paid. I heard M and K talking on a T.V show , they said 42 cents in the dollar on what is owing. Great I thought, however this apparently dependent on a few things ; ie if you wre in the ground staff super fund , how long your service was etc.
I am starting to smell a rat . Is the 42 cents in the buck a real figure or a misleading statistic ?
Time will tell I guess , but if anyone out there is seriously in the know could you please reply to this post
Evertonian
Payments are being distributed into your bank account and every effort isbeing made to have this paid before Christmas. We would estimate the average
return would be approximately 30-40% of the redundancy entitlements owing.
return would be approximately 30-40% of the redundancy entitlements owing.
Last edited by Buster Hyman; 10th Dec 2003 at 19:37.
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Thurs "The Australian"
Ex-Ansett employees paid out
December 11, 2003
THOUSANDS of former Ansett workers were expected to have received more of their outstanding entitlements from last night.
Ansett administrators Mark Korda and Mark Mentha yesterday announced they would start transferring redundancy payments from midnight to former Ansett staff from the $150 million entitlement settlement reached last month.
In what is believed to be Australia's largest-ever insolvency distribution, the administrators said dividends raised from the sale of Ansett assets and businesses would be electronically transferred into the bank accounts of ex-employees.
Former workers cautiously celebrated the news yesterday.
Victorian branch secretary of the Australian Services Union Ingrid Stitt said the union was reluctant to advise members that they would receive their payments before Christmas.
"The administrators have got every intention of trying to pay as many people as possible before Christmas. "I'm just hoping that they will be able to do that if that's what they say they are going to do," Ms Stitt said.
"If, in fact, they can get the payments to staff before Christmas that's obviously an absolute bonus," she said.
The Federal Court last month approved the entitlement settlement, ending a two-year dispute between the administrators and the trustees of a staff superannuation fund.
Workers had earlier received an average of 52 cents in the dollar, with 12,000 of the former airline's staff still owed a total of $220 million.
The latest settlement will take the average payment to 71 cents in the dollar.
===========================================
Ex-Ansett employees paid out
December 11, 2003
THOUSANDS of former Ansett workers were expected to have received more of their outstanding entitlements from last night.
Ansett administrators Mark Korda and Mark Mentha yesterday announced they would start transferring redundancy payments from midnight to former Ansett staff from the $150 million entitlement settlement reached last month.
In what is believed to be Australia's largest-ever insolvency distribution, the administrators said dividends raised from the sale of Ansett assets and businesses would be electronically transferred into the bank accounts of ex-employees.
Former workers cautiously celebrated the news yesterday.
Victorian branch secretary of the Australian Services Union Ingrid Stitt said the union was reluctant to advise members that they would receive their payments before Christmas.
"The administrators have got every intention of trying to pay as many people as possible before Christmas. "I'm just hoping that they will be able to do that if that's what they say they are going to do," Ms Stitt said.
"If, in fact, they can get the payments to staff before Christmas that's obviously an absolute bonus," she said.
The Federal Court last month approved the entitlement settlement, ending a two-year dispute between the administrators and the trustees of a staff superannuation fund.
Workers had earlier received an average of 52 cents in the dollar, with 12,000 of the former airline's staff still owed a total of $220 million.
The latest settlement will take the average payment to 71 cents in the dollar.
===========================================
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Got half of what I'm still owed from the administrators this morning. Thank-you M&M. Coupled with ABOUT BLOODY TIME!.
No word on the gnd staff super yet. However, I hope what has been distributed makes up few upturned lives a little merrier this christmas.
No word on the gnd staff super yet. However, I hope what has been distributed makes up few upturned lives a little merrier this christmas.
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Back from work , checked bank account again to find........................................................ ............................................................ ................Absolutely no payment .
Guess I'm one of the less than 10 % that won't be getting their money immediately.
At least i've got a job though !
Guess I'm one of the less than 10 % that won't be getting their money immediately.
At least i've got a job though !
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NO MONEY IN MY ACCOUNT!!!!!!!!!!!!
Sounds like the Administrators grandstanding for the press again. I heard on the radio this morning that $150 million had been distributed overnight to 15000 former Ansett employees'.
Bull****!! and whats this claimed 72c average in the dollar (crap) paid out so far to employees'. I have only recieved a fraction of what I am entitled to.
Bull****!! and whats this claimed 72c average in the dollar (crap) paid out so far to employees'. I have only recieved a fraction of what I am entitled to.
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agreed LAME,
These two are very good at self promotion. Let's face it they have built their business on the ansett collapse and take every opportuntiy to raise their profile. That's good business sense but it does rub me the wrong way when nothing has been forthcoming despite me reasonably hoping for it after reading their press release.....oh., yeah, up early checked bank account ..
no dough .
These two are very good at self promotion. Let's face it they have built their business on the ansett collapse and take every opportuntiy to raise their profile. That's good business sense but it does rub me the wrong way when nothing has been forthcoming despite me reasonably hoping for it after reading their press release.....oh., yeah, up early checked bank account ..
no dough .
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....and nothing for many of my ex colleagues either....... 90% of staff getting money on the 11th..........Bull#$t!
Sounds good to the general public though. I have had so many people ring me over the last 24 hours telling me how glad they are that I have finally got some money . When I tell them that I haven't got a cracker yet they say " but it was in the paper, on the news.etc etc..." I have emailed the employee hotline and got a standard " please check your bank account over the next few days .." reply. No specific details .
If there is nothing in the bank by Monday I will be fronting them personally for an reason .
Sounds good to the general public though. I have had so many people ring me over the last 24 hours telling me how glad they are that I have finally got some money . When I tell them that I haven't got a cracker yet they say " but it was in the paper, on the news.etc etc..." I have emailed the employee hotline and got a standard " please check your bank account over the next few days .." reply. No specific details .
If there is nothing in the bank by Monday I will be fronting them personally for an reason .
Evertonian
I see Mark Korda was on the ABC radio this morning trumpeting the fact that they sold a 146 freighter. Wouldn't go into specifics, but said they got over AUD5million for it....
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Got my payment this morning - nothing like the sum in the Proof of Debt letter, but something, at last! It should make Christmas a little brighter.
Kind regards, and Season's best wishes, to all,
TheNightOwl.
Kind regards, and Season's best wishes, to all,
TheNightOwl.
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I received about 9% in my account. I thought we were all going to get approx. 20 %. Either M&M are Bullsh*#ting us or the ATO have taken 50% in TAX! I would be interested to know how many other employee's dividend was short of what they had calculated?