(Agencies) The Marrache & Co scandal that has rocked Gibraltar since the arrest of two senior partners is developing rapidly. Isaac Marrache, who was away at the time of the arrests, has dropped his appeal against a decision by Chief Justice Anthony Dudley suspending him from practising as a lawyer in Gibraltar, which means his suspension is now in effect. The Financial Services Commission has appointed experienced auditor Freddie White, Managing Director of Grant Thornton Gibraltar (photo), as the authorised administrator of the seven suspended Marrache companies, a step aimed at minimising inconvenience to clients. Mr White will help clients of Marrache & Co's Gibraltar office to transfer their business to other licensed entities. In the meantime over 50 employees joined the trade union Unite to protect their interests, according to The Gibraltar Chronicle.>
Speaking to the Chronicle yesterday, District Officer Charlie Sisarello recognised the difficulty of the situation facing staff and said the union will now be liaising with the Employment and Training Board, “with a view to obtaining all monies owed to them including their salaries for January which have not been paid.”
He said employees had come to the Union and explained their “concerns and uncertainty regarding the future.” The Union leader declared that the moment these employees do not receive their salaries because the company is unable to trade and therefore to pay them, “means they can be considered redundant at least technically. This will set off a series of consequences including a claim for redundancy payment and other entitlements that would come through the Insolvency Fund.”
Mr Sisarello said the Union would act “to avoid employees suffering financial hardship as a result of what has happened. We also want to establish whether the company has been paying social insurance in respect of the employees.”
Staff also elected two staff members to represent them as shop stewards.
Mr Sisarello added that employees were contracted by a Marrache company called Christy Secretarial Services.
“Some of them are self-employed in theory, although in practice, they are employees receiving salaries on the basis of terms and conditions.”
Speaking to the Chronicle yesterday, District Officer Charlie Sisarello recognised the difficulty of the situation facing staff and said the union will now be liaising with the Employment and Training Board, “with a view to obtaining all monies owed to them including their salaries for January which have not been paid.”
He said employees had come to the Union and explained their “concerns and uncertainty regarding the future.” The Union leader declared that the moment these employees do not receive their salaries because the company is unable to trade and therefore to pay them, “means they can be considered redundant at least technically. This will set off a series of consequences including a claim for redundancy payment and other entitlements that would come through the Insolvency Fund.”
Mr Sisarello said the Union would act “to avoid employees suffering financial hardship as a result of what has happened. We also want to establish whether the company has been paying social insurance in respect of the employees.”
Staff also elected two staff members to represent them as shop stewards.
Mr Sisarello added that employees were contracted by a Marrache company called Christy Secretarial Services.
“Some of them are self-employed in theory, although in practice, they are employees receiving salaries on the basis of terms and conditions.”
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