ASIC appoints liquidators to 17 abandoned companies, assisting 32 employees access up to $570k in unpaid entitlements (and to investigate reasons for their failure and redress)
ASIC has assisted employees gain access to the Government’s ‘Fair Entitlements Guarantee scheme (Entitlements Scheme) by exercising its wind-up powers and appointing liquidators to 17 abandoned companies in the 12 months to 30 September 2018. Because ASIC appointed the liquidators, employees of these 17 companies can now apply to recover owed unpaid employee entitlements. The 17 abandoned…