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Following a resolution last week to wind up drone logistics technology company Swoop Aero Pty Ltd and the recent appointment of receivers, administrators for the embattled company claim to have struck a deal that will see a "number of the employees" reinstated.
Administrator Simon Nelson of BPS Reconstruction and Recovery had recommended the wind up of Swoop Aero ahead of a creditors' meeting on 19 November, which was accepted by creditors in a resolution.
However, a spokesperson for the BPS clarifies the sales process for the business was "not affected by the company being placed in liquidation".
It is also only Swoop Aero Pty Ltd, the operating company, that is in liquidation. The parent company Kookaburra Aerospace has had its creditors' meeting adjourned to 4 December.
The creditors' report estimated that $1.1-$1.13 million could be recovered for secured creditors of Swoop Aero Pty Ltd, with 99 cents in the dollar to be returned to priority creditors. This includes some 23 employees who claim to be owed around $700,000, of which around $150,000 worth of superannuation would not be covered by the Commonwealth's Fair Entitlements Guarantee (FEG) scheme in the event of a liquidation.
Nelson added in the report that if a purchaser was found, entitlements may be transferred to them as a liability but more than $300,000 worth of redundancy and pay in lieu amounts may not crystallise.
It is still unclear how much of these liabilities will be paid out or how many former staff will regain employment with Swoop Aero.
"I can confirm that Mr Mathew Gollant of CJG Advisory has been appointed as receiver and manager, however, we are in control of the sale process with the receiver simply overseeing the matter," a spokesperson for BPS said.
"We have also recently accepted an offer which includes the re-employment of a number of the employees."
Click here for more on the creditors' report and how directors and co-founder Eric Peck responded to its findings and claims from former employees.
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