Agency has did not safe backing from the fund conceptualized by reinsurance execs
A former govt of Horizon Communications, which has been in receivership since January 5, has initiated authorized motion to implement a tribunal judgment for unpaid wages.
Ross Barkwell, beforehand serving because the chief of enterprise improvement at Horizon, was terminated following the corporate’s cessation of operations on June 26.
As per a report from The Royal Gazette, Barkwell is searching for to recuperate $65,635, which represents his severance pay, vacation pay, and costs resulting from early termination. The declare originated from a listening to held in June by the Employment and Labour Relations Tribunal, attended by Teneo, the appointed receiver, and authorized representatives.
The state of affairs at Horizon Communications escalated when the workers was laid off on January 12, following the corporate’s monetary difficulties attributed to its incapability to safe funding from its lender, the Bermuda Funding Fund managed by Fortress Funding Group. The fund, conceptualized by senior executives in Bermuda’s reinsurance business, was introduced to the Progressive Labour Get together authorities, which subsequently took a seat on the board.
Throughout the listening to, Teneo said that the out there funds have been inadequate to cowl funds, as Horizon was nonetheless within the means of being wound up. Regardless of Horizon’s failure to current a protection and the receiver’s declare of insufficient funds, Barkwell proceeded to file papers with the Supreme Courtroom in September to implement the tribunal’s judgment. Horizon was served with the Supreme Courtroom paperwork however didn’t reply.
In accordance with Horizon’s former CEO, secured collectors, together with the lender, have been prioritized for cost. If surplus funds remained, they’d be allotted to unsecured collectors, akin to workers.
The tribunal’s judgment acknowledged its restricted case administration powers however confirmed that Horizon had been duly notified of each the preliminary listening to and Barkwell’s declare for unpaid wages. Within the absence of a response from Horizon, the tribunal awarded a judgment towards the corporate for $65,635. This judgment may be enforced within the Supreme Courtroom as a civil debt below part 44C(2) of the Employment Act 2000.
What are your ideas on this story? Please be at liberty to share your feedback under.
Sustain with the newest information and occasions
Be a part of our mailing listing, it’s free!
