Workers from earth moving business paid full entitlements
THE former employees of Bachmann Plant Hire will receive their full entitlements, seven months after the business entered administration.
The 79 former staff members of the long-running Ipswich earth moving operation will be paid 100 cents in the dollar for what they were owed.
Insolvency firm Jirsch Sutherland was appointed to parent company MRS Services Group in September.
The business was started by Lloyd Bachmann in 1965 and taken over by his son Greg, before it was sold to MRS in 2016 for $13.4 million.
About $278,000 will be paid out to former workers as payment in lieu of notice, with about $669,250 paid in redundancies, about $76,280 paid in long service leave and about $174,700 paid in leave and loading.
"This is an excellent result achieved by realising receivables and assets," Jirsch Sutherland partner Sule Arnautovic said.
"It also reduces the burden on the government, as it means the staff members don't have to make an application for funds through the Fair Entitlements Guarantee."
More than $10 million worth of earthmoving equipment previously owned by the business was sold off in February.
The auction, held by asset remarketing company Pickles, attracted about 300 people.
Items up for grabs included 28 scrapers, 14 track dozers, 15 articulated dump trucks, 10 compactors, five graders and seven hydraulic excavators.
There were 650 registered buyers on the day from around Australia, New Zealand and Asia, with 514 lots sold.
Former workers expressed anger and frustration at the demise of the long-running family business and said it had gone downhill after it was purchased by MRS.