ASIC to recover more than $400,000 from abandoned companies, prompting investigations
ASIC is sparking investigations into a new spate of abandoned companies in a bid to recover unpaid employee entitlements.
Corporate regulator ASIC has been appointing liquidators to abandoned companies in recent months to recover more than $400,000 in unpaid employee entitlements.
Companies including NISS Technologies, Jovawill Pty Ltd, Ruschi Pty Ltd, Steel Project Services and the Surat Basin Group are now being investigated by liquidators at ASIC’s behest, amid concern about illegal phoenixing activity.
ASIC says the wind-ups will allow “a full and proper investigation into the reasons why the companies failed and may assist the recovery of any voidable or unreasonable director-related transactions”.
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