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UNIONS EXCLUDED FROM CREDITOR MEETING FOR AUSTRALIA'S PASMINCO.

AsiaPulse News

| November 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Nov 1 Asia Pulse - Two major unions claim were left out of a creditors' meeting for failed nickel miner Pasminco, leaving workers unrepresented in the administration process.

Pasminco went into voluntary administration on September 19, with debts of around $A3.4 billion ($US1.71 billion).

Unions representing some 4,000 Pasminco workers around the country are concerned that entitlements worth $280 million are under threat.

The company has said entitlements are secured by Pasminco's multi-billion dollar assets.

However, unions are angry that they have been refused access to Pasminco's 15-member creditors' meeting after they refused to sign a confidentiality agreement drawn up by the administrators.

The Australian Manufacturing Workers Union (AMWU) and the Construction Forestry Mining and Energy Union (CFMEU) said they refused to sign the agreement because it would restrict their ability to keep Pasminco staff informed of the administration process.

CFMEU assistant national secretary John Sutton said staff were major ...

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