""Once a worker finishes their job for the day, they expect to be paid," he said "We really need to look at reforming the laws in this area, because workers are definitely at the bottom of the pile when it comes to priority creditors in these situations. "They're really left powerless in terms of what they can do and in terms of what legal rights they have.""
""Change is as good as a holiday and the new facility's going to be built for purpose,""
""we were surplus ... and the business was put into administration""
Zib Digital engaged in a legal phoenixing process that allowed the insolvent company to wind up and restart under a new ABN, shedding previous debts. The insolvent entity owed about $4.5 million to staff, suppliers and the tax office. Approximately a third of the workforce lost jobs and unpaid entitlements after being given only a day's notice before the business was placed into administration. The reconstituted business reopened a few hundred metres from the original inner Melbourne headquarters. Industry representatives criticized the practice as harmful to workers and called for law reform to improve creditor priority protections.
Read at Abc
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