Thursday 31 May 2012

Millions shifted from UAE as Hastie collapsed - ABC News (Australian Broadcasting Corporation)

The ABC has learned that as many as 1,500 Hastie Group workers in the United Arab Emirates may have lost not only their jobs but also their entitlements in the company's collapse late last week.

Their termination entitlements are in jeopardy because more than $3 million was transferred from Dubai to Australia in the days before administrators and receivers were brought in.

The company's top three executives, who signed off on the money transfer, then left Dubai on fears they may be detained.

No comments:

Post a Comment