The administrators of failed mining firm Kagara say they have paid back all dues to its former employees, after restructuring the assets and selling them to a private equity firm.
Advisory firm FTI Consulting says it has paid back $16 million in entitlements to over 300 Kagara employees, and also reimbursed $9.5 million to the federal government for the earlier interim payment to employees under the Fair Entitlements Guarantee scheme.
The Perth-based miner went into administration in April 2012 after it was hit by sharp falls in zinc and copper prices and failed to meet its debt obligations.
FTI Consulting is also administrator for the Clive Palmer-owned Queensland Nickel refinery, which is on the verge of being wound up, putting at risk dues of nearly $200 million in employee entitlements and other debts.
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