Caledon Coal Pty Ltd and related entities

Transcription

1 Caledn Cal Pty Ltd and related entities Frequently Asked Questins 15 May 2017

2 Table f Cntents 1. Backgrund 2. Entitlements 3. Supprt 4. Key timeframes and Cntacts

3 1. Backgrund 1.1. What has happened t the Cmpanies and why is it in Administratin? Due t the subdued cal market, recent water inundatin event and financial psitin f the Cmpanies, the Directrs reslved t appint Vluntary Administratrs t the Cmpanies n 12 May The Vluntary Administratin prvides an pprtunity fr the Administratrs t review and assess the Cmpanies financial psitins and explre all available ptins ver the cming weeks What des this mean fr me? The Administratrs are nw in cntrl f the business, peratins and assets f the Cmpanies. The Administratrs are placing the Cmpanies peratins int a care and maintenance status. This means the Administratrs will maintain a small number f staff t assist the Administratrs during the administratin. Any request t cntinue t assist the Administratrs n an nging basis will be advised in writing. The Administratrs have impsed cntrls and prcedures in relatin t: Cmmunicatins in the Cmpanies names Purchase rders fr supplies Invicing and finance Emplyee leave arrangements. If yu are unsure f these new prcedures, please discuss with yur line manager r PPB Advisry staff nsite. Any issues shuld als be brught t ur attentin thrugh ur nsite representatives r by cntacting ur ffice n The Administratrs will shrtly be frwarding a cpy f yur utstanding emplyee entitlements. ASIC Guidance n Vluntary Administratins is available fr emplyees at Where can I access cmmunicatins issued by the Administratrs? Key cmmunicatins issued t stakehlders can be fund n the PPB Advisry website: under the link t Caledn Cal Pty Ltd and CC Pty Ltd in the Creditr Infrmatin. We have als created the caledncal@ppbadvisry.cm inbx. Yu may frward any enquiries yu have t this inbx. We will aim t respnd t such enquiries in a timely manner.

4 2. Entitlements 2.1. Will I get paid this week? Any unpaid wages wing at the date f ur appintment will be paid in the rdinary curse. If yu have been retained t assist the Administratrs, yu will get paid fr yur hurs wrked per yur usual emplyment cnditins. Yu will be paid this week fr any amunts wing t yu as at the time f the Administratrs appintment What happens t amunts utstanding t me? Fr emplyees wh have been terminated, claims fr arrears f wages/salaries, superannuatin, utstanding hliday pay, pay in lieu f ntice and any redundancy pay due t yu fllwing the terminatin f yur emplyment will rank fr pririty treatment ut f net realisatins f circulating assets under Sectin 561 f the Crpratins Act It is likely yu will need t wait until the utcme f the secnd creditrs meeting befre yu receive any utstanding entitlements. Please nte that if yu intend t resign during ur appintment yu may nt be entitled t redundancy r pay in lieu f ntice. Payment f yur entitlements will be dependent n the level f circulating asset realisatins (net realisatins in relatin t cash, debtrs, inventry, etc.) that may be available t fund yur entitlements. If the Cmpanies are subsequently placed int liquidatin, the Federal Gvernment s Fair Entitlements Guarantee scheme (FEG) which is administered by the Department f Emplyment may be accessed t pay amunts utstanding t yu. Shuld this ccur, we will prvide yu with further infrmatin and assistance n accessing this scheme. Infrmatin is als available at Is my superannuatin paid up t date? Frm ur preliminary review f the Cmpanies bks and recrds, it appears yu have unpaid superannuatin wing t yu. Any superannuatin wing frm this date will rank as a pririty claim against yur emplying cmpany. Please nte that any utstanding superannuatin entitlements are nt cvered by the FEG Scheme and will nly be paid ut t emplyees if there are available circulating assets within yur emplying cmpany. If the business is sld r a Deed f Cmpany Arrangement is executed, it may be pssible t pay the utstanding superannuatin, but nly if there are funds available.

5 2.4. Hw d I find ut what I am wed? The Administratrs will calculate yur entitlements in cnjunctin with the Cmpanies payrll department, and will write t yu as sn as the infrmatin is available. In respect f redundancy entitlements, these are calculated based n: the number f cntinuus years f emplyment yur emplyment cntract any award that may apply natinal emplyment standards What are the tax implicatins f my entitlements? Special tax rules apply t redundancy entitlements. We recmmend yu seek yur wn tax advice if yu receive a redundancy payment. Further guidance and infrmatin can als be fund at If I am made redundant, can I receive welfare payments? We recmmend that yu make enquiries with Centrelink as t the requirements fr receiving welfare payments either by ging t the lcal Centrelink ffice r nline at Please send an t caledncal@ppbadvisry.cm if yu require a separatin certificate fllwing the end f yur emplyment with the Cmpanies. 3. Key Time Frames and Cntacts 3.1. Key Timeframes and Cntacts Emplyee Entitlements Summary We are aiming t have a schedule f utstanding emplyee entitlements sent within fifteen (15) business days. These will be sent t yu via and/r rdinary pst. FEG Scheme Yu may be able t access the FEG Scheme, if yur emplying cmpany ges int liquidatin. A decisin n the Cmpanies will be made by creditrs at the secnd creditrs meeting. An indicative time frame is prvided belw; hwever, the actual time frame may vary if, fr example, an extensin t the administratin perid is sught and btained by rder f the Curt.

6 Administratin timeline First Creditrs Meeting is held by the Vluntary Administratrs within eight (8) business days f Appintment (24 May 2017) Secnd Meeting is held by the Vluntary Administratrs within fifteen (15) t twentyfive (25) business days f Appintment. The Administratrs can apply t curt t have this timeframe extended if it is in the creditrs best interests. Liquidatrs may be appinted t the Cmpanies. Shuld Liquidatrs be appinted t the Cmpanies the FEG Scheme is accessible t emplyees fr utstanding Emplyee Entitlements (limits apply, nt available fr utstanding superannuatin). Within 8 business days Within 25 business days After 25+ business days 3.2. Wh is PPB Advisry? PPB Advisry is a leading prfessinal advisry firm that emplys ver 300 peple acrss Australia and Singapre and wrks with clients frm arund the wrld. Yu can find ut mre n Wh has been appinted t the Cmpanies? Grant Sparks, Stephen Lngley and Martin Frd frm PPB Advisry were appinted jint and several Administratrs f the Cmpanies n 12 May Whm can I cntact if I have an enquiry that is nt cvered by this FAQ? The Administratrs acknwledge that any frm f external administratin will be a stressful time fr all emplyees. This FAQ Bklet has been cmpiled t prvide yu with cmprehensive answers t the mst cmmn questins emplyees have in an administratin. Hwever, this FAQ Bklet may nt prvide yu with all the answers yu need. If yu have reviewed this FAQ and have an unanswered questin that yu wuld like answered, yu can call r send yur enquiry t: Caledn Cmpanies Emplyee Team Caledn Cal Pty Ltd and CC Pty Ltd (Bth Administratrs Appinted) t e caledncal@ppbadvisry.cm a GPO Bx 1216, Brisbane QLD 4001

7 4. Supprt 4.1 I may need t speak t smene abut what is happening t me. We knw that inslvency is a stressful time and is ften filled with uncertainty. This perid may have a serius emtinal impact n yu and yur family. We encurage yu t read the bklet taking care f yurself after retrenchment r financial lss. On page 16 f this bklet yu will find varius gvernment and nn-gvernment agencies that can prvide yu supprt during this time. The bklet can be fund n