ASIC reported in December 2014 that it had recently exercised its wind up powers to appoint liquidators to nine abandoned companies to assist former employees of these companies, owed in excess of $310,000, to gain access to the Fair Entitlements Guarantee (“FEG”) scheme.
In the whole of 2014, ASIC used its new powers obtained in 2013 to appoint liquidators to 32 companies that owed a total of 99 employees more than $1.4 million in entitlements.
See Issue 27 of Sheridans’ View.
April 2015