ASIC action assists employees of abandoned companies to access almost $450,000 in employee entitlements
ASIC has assisted employees gain access to the Fair Entitlements Guarantee scheme (FEG) by exercising its wind-up powers and appointing liquidators to 19 abandoned companies. From 1 July 2020 to 30 June 2021, ASIC appointed liquidators to 19 abandoned companies owing at least 29 employees $448,370 in employee entitlements. By comparison, from 1 July 2019 …
