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what would you do??????

e-fish-n-sea

By e-fish-n-sea
in Non-Fishing Chat

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e-fish-n-sea Newbie

e-fish-n-sea

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hi everyone this is my question -3 months ago i sold my company to someone as i had made the decision to change jobs it was a cabinet making company running since '98' .i have been going back for a few days to help out and build custom units.we just completed a huge school refit 3 weeks ago since then i had to complete a mining coarse .

last week i had a phone call saying the guy had put his hand through the saw could i run the workshop which i said ok ,i descovered that the idiot had taken the guards off the sawbench he spent a week in hospital having his finger rebuilt (i gave no sympathy)as he removed the guards.

ive put a bill into him for my labour going back 3 weeks only to be told he has no money to pay me so i havent worked this week-today a mate rang after being told i left him in the lurch as he cant work!!!

my question is did i do the wrong thing??? should i work and hope to get my wages??? or should i snot him one??? only joking what would you do.

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Jnr79 Newbie

Jnr79

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I presume there was no contractural obligation for you to assist to complete any works for him at all and you have no ties to the business and hence no responsibilities to him or customers.

I wouldn't be giving him any extra hours of work without receiving further payments for arrears already rightfully owed to you. Tell him to try and collect groceries from Coles and then tell then that he will pay for them in three weeks times...

Common sense and general courtesy that he should fix you up even before requesting further assistance. Put up the poll, I would vote for snot the scumbag simply for the fact he has tried to discredit you to others by way of BS.

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ellicat Grand Master

ellicat

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It will come down to good communication.

Did you tell him you weren't going to show or did you just not show ?

Talk to him.

That is the only path to resolution.

Don't ask us lol we know nothing about the whole deal.

Chances are he has a payment coming in but due to his distraction hasn't been collecting.

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e-fish-n-sea Newbie

e-fish-n-sea

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he was an existing customer of mine who i sold to at the time of selling i told him that if he wanted me to work i required paying and we agreed a rate ive been turning up each day at 7am to start once he pays whats owed to which i get told no money so i go home to drive the wife around the bend!!! ive got the cleanest ute and 4x4 in the street now :)

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rayke1938 Experienced

rayke1938

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If he has no money to pay wages he is committing an offense by trading whilst insolvent.

If he did not have insurance to cover him for such an event that has just occurred he is a fool but then he has already demonstrated that by removing the guard off the saw.

There are no mates in business grab what is owed to you before someone takes him to bankruptcy because when that happens the only person who wins is the administrator.

Sorry about harsh words but it as all true.

Cheers

Ray

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mick fillet Newbie

mick fillet

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if the company is now so broke. how does it stay afloat and for how much longer and what about work cover for the companys employees(being you), and if your working there are you covered,if the companys so broke how does it pay work cover.

you need to have a good chit chat with ol'mate i reckon,like ecat said "comunication"

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Terry H Newbie

Terry H

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If he has no money to pay wages he is committing an offense by trading whilst insolvent.

If he did not have insurance to cover him for such an event that has just occurred he is a fool but then he has already demonstrated that by removing the guard off the saw.

There are no mates in business grab what is owed to you before someone takes him to bankruptcy because when that happens the only person who wins is the administrator.

Sorry about harsh words but it as all true.

Cheers

Ray

Ray, it is not as clear cut as you may think. I have seen companies come under fire from ATO for not paying super for 12 months. Probably a good thing to be honest in this current and (recent) past economic climate. Seems a lot of superfunds are losing money at the moment anyway - so perhaps getting your employer to hold off on your super is a wise investment choice :silly: :cheer: :dry: Just as long as they do pay it in the end :sick:

Per s95A of the Corporations Act 2001, the definition of solvency is being able to pay your debts when they are "due and payable"

Just because you don't have cash in the bank to pay a creditors (inc Andy) does NOT mean you are trading insolvent. For example, your trade debtors can be your resources to service your debts, and as such meet the definition of solvent.

You also have to look at creditor terms (creditors are not 'due and payable' until their credit terms have past)

Simply not paying your creditors doesn't constitute insolvent trading. You just need to be able to. Without looking in the books, you'll almost never know if they are able to. At the end of the day, this bloke can tell all the porkies he wants about not having cash in the bank to delay payment.

Not paying wages, super or taxes are certainly indicators of insolvency, but is certainly not a guaranteed thing.

mick fillet: unless its different for tradies etc, WorkCover is generally paid annually up front based on estimates of employee wages.

e-fish-n-sea: glad to hear you got paid :)

Sometimes honest and positive communication is all that is required.

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e-fish-n-sea Newbie

e-fish-n-sea

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thanks m8 i dont know all the legal stuff i ran the company for years paying accounts on time and wages every thursday without fail .i believe you do a days work you get a days pay .the problem is i have only worked for myself and been that boss guess not everyone thinks the way i do and will lie to delay things.thanks again Andy

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