Union organisers concerned for Mackay Telegraph staff
UNION organisers are still yet to make contact with staff of the troubled Queensland Media Holdings Pty Ltd, publisher of the Mackay Telegraph newspaper.
Media, Entertainment and Arts Alliance North Queensland organiser Linda Grinter said the union was concerned for staff at the financially-stricken newspaper.
"We've been trying to get in touch with people - our biggest concern is that people are paid out fairly all their entitlements."
As reported by the Daily Mercury today, insolvency management company BRI Ferrier was appointed liquidator of Queensland Media Holdings in the Mackay Supreme Court after the company's administrator was denied an application for an adjournment to allow for a period of administration.
Ms Grinter said they also had not yet made contact with any management at the media company.
"It's sad that it's gone this way - it doesn't look good for the company," she said.
Liquidators take control of Mackay Telegraph publisher
LIQUIDATORS arrived in Mackay yesterday to take control of the financially-stricken Queensland Media Holdings Pty Ltd, publisher of the Mackay Telegraph newspaper.
One creditor is owed $270,000, a Mackay court was told yesterday.
Insolvency management company BRI Ferrier was appointed liquidator of Queensland Media Holdings in the Mackay Supreme Court after the company's administrator was denied an application for an adjournment to allow for a period of administration.
Supreme Court Justice David North said it was "only possible, not likely" that an adjournment would benefit creditors.
Justice North said the $270,000 owed to one creditor, represented by solicitor Greg Smart, of SR Wallace and Wallace, and $5500 owed to another creditor had been outstanding "for some time".
He said Queensland Media Holdings' accounts had been frozen.
After the Supreme Court decision yesterday, Mr Smart told the Daily Mercury his client would now "wait for the liquidator to do their job".
Mr Smart, a commercial litigation solicitor, said BRI Ferrier would now conduct preliminary investigations into whether or not the business was "viable".
"They'll then make a decision as to whether papers will continue to be printed," he said.
"The liquidators have control of the company.
"The previous directors no longer make decisions," he said.
Following the court's decision, BRI Ferrier principal Moira Carter travelled to Mackay from Townsville to meet with the Queensland Media Holdings' director.
Ms Carter said she and fellow liquidator Robert Humphreys had elected to continue to trade the company for the time being, with a view to maximising the return to creditors.
"The director, who is cooperating with the liquidators, will put forward a detailed proposal in the next few days," she said.
"The paper will continue in Mackay and Toowoomba.
"The Rockhampton office has been closed."
Queensland Media Holdings was created by Darren McVean, who is the company's chief executive officer.
Former Mackay Telegraph production manager Peter Molloy expressed grave concern after leaving the company.
Mr Molloy, who has since commenced work at the Daily Mercury, said he only received one month's worth of superannuation payments during his 17 months spent with Queensland Media Holdings.
Mr Molloy is also yet to receive his final week's pay and holiday entitlements.
The Mackay Telegraph employs about 20 people.
'Business as usual'
MACKAY Telegraph general manager Tim Shinnick says it is business as usual for the weekly paper.
"We're proud of our regular product and we look forward to our latest edition being available for our valued clients and loyal readers on Friday," he said.
"We are very, very proud we can serve the Mackay community and will continue to do so for a long time to come yet.
"As usual we thank our residential clients and regular advertisers for their continued support."
Queensland Media Holdings CEO Darren McVean said the decision of the liquidator to secure the paper's future was a wonderful decision and one that was very humbling for the strong, prosperous and growing young company.
"The day was a rollercoaster of emotions but the confidence shown by the liquidator to continue our business as per normal is a great vote of confidence in our future," he said.
"This decision is most important as it secures the entitlement of staff, secures jobs and provides certainty to both our suppliers and clients so our business will continue as per normal.
"We now look forward to maximising value in our company for our creditors and continuing the important role we play in media diversity in regional Queensland."