The Australian Securities and Investment Commission (ASIC) exercised its wind up powers to appoint liquidators to 10 abandoned companies to assist employees of these companies to gain access to the Fair Entitlements Guarantee scheme (FEG).

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 latest abandoned companies owe at least 15 employees a total in excess of $429,000 in employee entitlements.

The companies are:

Company Liquidator and Firm State
Adelaide Commercial Furniture Pty Ltd Leigh Prior of Pitcher Partners SA
JBKM Ventures Pty Ltd Stefan Dopking of FTI Consulting QLD
New Energy Technologies Pty Ltd David Pratt and Ian England of PwC NSW
Rifam Pty Ltd Shane Cremin of Rodgers Reidy VIC
Let it Rain Pty Ltd Hugh Armenis of Bentleys NSW
Focus on Training Pty Ltd Shane Cremin of Rodgers Reidy VIC
YQ Trading Pty Ltd David Pratt and Ian England of PwC NSW
Parklane Building Corporation Pty Ltd Vaughan Strawbridge of Deloitte NSW
Sureline Training Services Pty Ltd Mark Englebert of FTI Consulting WA
Australian Veterinary Hospitals (South Australia) Pty Ltd Hugh Armenis of Bentleys NSW


The FEG is a legislative safety net scheme funded by the Australian Government. It is designed to assist employees owed unpaid employee entitlements because of their employer company’s liquidation or the company directors’ bankruptcy. In addition, the Department of Employment operates the 'Fair Entitlements Guarantee Recovery Programme'; a programme designed to strengthen recovery activity of amounts advanced under the FEG Scheme.

However, some employees owed entitlements cannot access FEG because the companies’ directors are either unable to discharge their duties or abandoned their insolvent companies without putting them into liquidation. ASIC’s appointment of liquidators facilitates access to FEG for these employees. ASIC first used its powers in 2013 (refer: 13-233MR) and to date has wound up 60 companies that owed a total of 213 employees more than $2.9 million in entitlements.