CREDITORS have agreed to the $2.5 million sale of Whitpark, a division of Noske Group, back to executive director Tony Noske but three employees won’t be retained and the rest will lose some entitlements.
The sale was agreed to Monday and includes the transfer of plant, trucks, equipment and 72 of the company’s 75 employees based inPortland, Geelong and Brighton.
A spokesman for Ferrier Hodgson, the former voluntary administrators and current liquidators of Whitpark wouldn’t confirm if the three employees were made redundant or quit.
The spokesman said it’s unlikely the $800,000 in superannuation entitlements will be paid to employees in full.
“Employees are aware of this and over the next few months we will be confirming exactly how much of their superannuation entitlements they will be paid,” they said.
But the spokesman said leave entitlements of $266,000 will carry over with the sale.
Whitpark liquidators John Lindholm and Brendan Richards of Ferrier Hodgson will investigate Whitpark leading up to the appointment of administrators and any other avenues that may lead to further recoveries for creditors. a press release from the company said.