Thursday 23 December 2010

Payments confirmed to employees and to contractors that lost men in the Pike River mine tragedy

John Fisk, David Bridgman and Malcolm Hollis, partners from PricewaterhouseCoopers, and receivers of Pike River Coal Limited (In Receivership), today have confirmed they have reached an agreement with the company's secured creditors to make an ex-gratia payment to the contractors that had employees who lost their lives in the Pike River mine disaster.

The payment will cover the labour costs of the contractors that provided labour to the site and lost men. Most of the payments are expected to be made to the contracting companies prior to Christmas.

Also, the receivers have confirmed all employee preferential payments have been made.

Receiver John Fisk says "whilst this is an incredibly difficult time of the year for employees affected by the recent events, it is pleasing for us to have been able to make this payment prior to Christmas."

ENDS

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