Newspaper article The Observer (Gladstone, Australia)

Employees Get Their Benefits

Newspaper article The Observer (Gladstone, Australia)

Employees Get Their Benefits

Article excerpt

Byline: Campbell Gellie campbell.gellie@apn.com.au

FORMER employees of insolvent Gladstone engineering company Project Unlimited look likely to be paid out all of their benefits.

The business went into voluntary administration in September last year; liquidators SV Partners director Jason Cronan said it was more than $1 million in debt.

Creditors met with the Mr Cronan at Yaralla Sports Club to talk about the process of going through the company's assets to get them their money in October.

"That process is almost done," Mr Cronan said.

The company's assets were auctioned off and taken from the owner's O'Connell property late last year.

"The secured creditors have been paid and it looks as though all of the employees will be paid out their benefits. But unsecured creditors look like they will miss out," Mr Cronan said.

Former employee 20-year-old Michael Keyworth is still waiting to get about $2000 he says is owed to him. …

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