CFMEU: $3M Bank Job

The CFMEU has stared down another round of anti-building worker legislation to win more than $3 million for employees and small businesses stranded by a Marrickville developer.

Financier Macquarrie Bank coughed up the money after a two-week picket of an apartment development, following the collapse of builder, JLB.

CFMEU state secretary, Andrew Ferguson, confirmed $3 million of the settlement would go to unpaid subcontractors, while another $150,000 had been earmarked for wages and entitlements owed to building workers, clerical workers and management staff.

"They all put their hands up and they were all owed money," Ferguson said.

"I'm not sure if the company went into administration or receivership. It doesn't matter, the point is it didn't pay.

"We will continue this type of action on behalf of workers and family businesses in spite of the threats of the federal government."

read more