KUALA LUMPUR (March 8): Liquidator of Utusan Melayu (M) Bhd, Datuk Tee Guan Pian of UHY Advisory (KL) Sdn Bhd, stated that it is in the midst of disposing trust assets in order to be able to pay outstanding amounts of around RM58.46 million to all 639 employees who are part of the (VSS) voluntary separation scheme.
In a statement, the liquidator stated that it is their stand that the outstanding payments should be paid to all 639 employees and it is not only the 160 who have filed legal action against the publisher.
The liquidator was responding to an article by The Edge on Tuesday (March 7) titled “Ex-Utusan workers who took voluntary separation give liquidators two weeks to pay up RM19 mil”.
The article stated that 160 employees out of the 639 had, through lawfirm Messrs Azmi & Associates, sent a letter of demand to Messrs Dennis, Nik and Wong to release RM18.88 million in funds from trust properties that were liquidated.
The Edge sighted the letter of demand written by Messrs Azmi & Associates to allow the liquidators 14 days from the date of the letter to comply, and stated that failure to do so would result in legal action being taken. The letter of demand was dated March 3.
To recap, High Court judge Nadzarin Wok Nordin ruled on Oct 25, 2022 that the workers who had yet to receive their full compensation after filing for the voluntary separation scheme (VSS) are beneficiaries of proceeds from the 29 trust properties.
“It is our stand that pursuant to the court order dated 25 October 2022, the outstanding payment ought to be paid simultaneously to all 639 of voluntary separation scheme (“VSS”) employees under Utusan’s group, regardless of whether they are represented by solicitors or not.
The said order did not confer priority rights to the 160 employees who are represented by Messrs Azmi & Associates,” said Tee in the latest statement.
Tee pointed out that the liquidator is in the midst of finalising the transactions in disposing of the trust properties to pay all VSS employees.
“The liquidator of the company is still in the midst of finalising the transaction in disposing of the trust assets, in order to be able to pay the outstanding amount (of) around RM58.46 million to all the VSS employees,” he said.
The said 29 properties (assets) are located in Jalan Chan Sow Lin here, and also in Bangi, Selangor.