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:
| Company | Liquidator and Firm | State |
| Trident Australasia Pty Ltd | Jason Tracy of Deloitte |
WA |
| Koko Hair Qld Pty Ltd | Derrick Vickers and Darryl Kirk of PwC |
QLD |
| Box Stallion Pty Ltd | Gary Fettes of Rodgers Reidy |
VIC |
| Meats International Co Pty Ltd | Hugh Armenis of Bentleys |
NSW |
| Sanai Trading Australia Pty Ltd | Hugh Armenis of Bentleys |
NSW |
| Atlantis Farm Pty Ltd | Hugh Armenis of Bentleys |
NSW |
| The Labour Barn Pty Ltd | Leigh Prior of Pitcher Partners |
SA |
| Myclub Holdings Pty Ltd | Gary Fettes of Rodgers Reidy |
VIC |
| Astra Manufacturing Pty Ltd | Jon Howarth of AS Advisory |
VIC |
| Dunea Group Pty Ltd | Leigh Prior of Pitcher Partners |
SA |
| RTO Qld Pty Ltd | Richard Hughes of Deloitte |
QLD |
| Z Force Industrial Pty Ltd | Anne Meagher of SV Partners |
QLD |
| Watershed NT Pty Ltd | Leigh Prior of Pitcher Partners |
NT |