ASIC winds up 13 abandoned companies owing employees more than $556,000


Australia financial regulator ASIC has exercised its wind up powers appointing liquidators to 13 abandoned companies to assist employees gain access to the Fair Entitlements Guarantee (FEG) scheme.

The appointment of liquidators also facilitates a full and proper investigation into the reasons why the companies failed and allows recovery of any voidable or unreasonable director-related transactions.

The 13 abandoned companies owe at least 27 employees a total in excess of $556,000 in employee entitlements. The following companies were wound up between 11 April to 7 July 2016. Here’s a list of all of them:

CompanyLiquidator and FirmState
Trident Australasia Pty LtdJason Tracy of Deloitte

WA

Koko Hair Qld Pty LtdDerrick Vickers and Darryl Kirk of PwC

QLD

Box Stallion Pty LtdGary Fettes of Rodgers Reidy

VIC

Meats International Co Pty LtdHugh Armenis of Bentleys

NSW

Sanai Trading Australia Pty LtdHugh Armenis of Bentleys

NSW

Atlantis Farm Pty LtdHugh Armenis of Bentleys

NSW

The Labour Barn Pty LtdLeigh Prior of Pitcher Partners

SA

Myclub Holdings Pty LtdGary Fettes of Rodgers Reidy

VIC

Astra Manufacturing Pty LtdJon Howarth of AS Advisory

VIC

Dunea Group Pty LtdLeigh Prior of Pitcher Partners

SA

RTO Qld Pty LtdRichard Hughes of Deloitte

QLD

Z Force Industrial Pty LtdAnne Meagher of SV Partners

QLD

Watershed NT Pty LtdLeigh Prior of Pitcher Partners

NT

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ASIC winds up 13 abandoned companies owing employees more than $556,000

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