M4M 0.00% 2.4¢ macro metals limited

Hi JPS, re "enough to at least pay the directors their overdue...

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    Hi JPS, re "enough to at least pay the directors their overdue salaries"

    In liquidation the build of any entitlements due to Directors would fall into the category of "Ordinary unsecured creditors" ie not likely to get much.


    "
    However there is an exception for excluded employees, who are subject to caps on their dividends. This category refers to any employee who, in the last 12 months leading up to the liquidation, served or continues to serve as a director, or is the spouse of a director, or relative of a director.

    For these employees, caps of $2,000 for wage and superannuation entitlements and $1,500 for leave entitlements apply, and the balance or remaining amounts owed are paid out at the same priority level as ordinary unsecured creditors."

    Source: https://australiandebtsolvers.com.au/research-centre/gets-paid-first-company-goes-liquidation/

    So doubt if this has much to do with why they are raising as you seem to suggest.
    Last edited by Names little: 23/02/18
 
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