The corporate regulator has wound up 17 “abandoned” companies that collectively owed their employees more than $570,000 in outstanding entitlements.
ASIC said that by winding up the affected companies (listed below) over the 12 months to the end of September, the impacted workers will now be eligible to claim the monies owed to them through the taxpayer-funded Fair Entitlements Guarantee scheme.
It said that “at least 32 employees” are owed more than $570,000. ASIC did not reveal whether other creditors were also owed money.
Liquidators have also been appointed, which ASIC said “facilitates a full and proper investigation into the reasons why the companies failed and allows recovery of any voidable or unreasonable director-related transactions that can potentially be returned to creditors”.
The powers to wind up companies were first used by ASIC in 2013. Since then, it has wound up 110 companies.
Those that have been deregistered and passed to liquidators for investigation over the past year are, in alphabetical order and with the state in which they were registered as being:
- Bosco Corporations Pty Ltd (NSW)
- Cardcorp HDP Pty Ltd (NSW)
- Controlability Pty Ltd (NT)
- DC2 Pty Ltd (Victoria)
- Dm Garden Creations Pty Ltd (Victoria)
- Financial Wellness Pty Ltd (SA)
- Gladstone District Transport Logistics Pty Ltd (Queensland)
- Greenwood Pine Pty Ltd (Tasmania)
- Jeff's Shed Furniture & Rug Warehouse Pty Ltd (Victoria)
- Lac Operations Pty Ltd (NSW)
- M&JS Pty Ltd (SA)
- Mansion Showgirls & Nightclub Pty Ltd (Queensland)
- Mechtune Pty Ltd (WA)
- Metro Power Pty Ltd (NSW)
- Platinum Group Qld Pty Ltd (Queensland)
- The Le Page Group Pty Ltd (WA)
- The Perfume Parlour West Lakes Pty Ltd (SA)
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.