|
National Australia Bank said today it had made an offer to the Australian Manufacturing Workers' Union regarding payment of Steel Tank & Pipe employee entitlements. The chief executive officer of Australian Financial Services, Mr Mike Pratt said today that an offer was made yesterday to the national office of the Australian Manufacturing Workers' Union. "The National Australia Bank understands the difficulties faced by the workers of this company, which is in receivership, and in an act of good faith we have put a proposal to the union to help assist with the matter. The proposal included an offer to pay the workers wages for completing existing work in progress and a further contribution to a fund to assist workers. The offer also included a commitment to expedite the workers untested claims in the receivership and to ensure no funds were distributed to any parties until a court direction had been received to do so. The proposal further presented the maximum opportunity for the receivers -PriceWaterhouseCoopers to sell the business and potentially preserve the existing jobs. "This would benefit the workers who would otherwise not receive their full benefit," Mr Pratt said. "Although the union officials seemed eager to progress that offer and to provide a response by midday today, unfortunately, for reasons that are not entirely clear to the National, the union members today picketed several of the National's major branches," he said. Mr Pratt said the offer indicated a clear willingness by the bank to assist these workers, that all possible efforts were being made by the National to progress a mutually beneficial outcome. Several companies in the Steel Pipe and Tank "group" were placed into receivership earlier this month at the request of directors of the companies. The National is a secured creditor to the companies and may rank ahead of certain employees due to the manner in which the companies' owners had structured the company. The National has instructed the receivers to fully investigate the structure of the group and to ensure that all creditors are treated in accordance with their rights. Mr Pratt said he hoped all parties could continue to work together to help resolve the issue.
|
