Queensland transport business in ASIC pay probe


Liquidator finds dissolved former Fastway Couriers franchisee owing employee entitlements

Queensland transport business in ASIC pay probe
ASIC has powers to wind up a company

 

A Queensland transport business has been identified as having outstanding employee entitlements after the Australian Securities and Investments Commission (ASIC) exercised its wind-up powers to liquidate numerous "abandoned" companies in a 12-month period up to September 30.

Gladstone District Transport Logistics, once a regional franchisee of Fastway Couriers, located at Power Street in Kawana, was implicated as one of the offending businesses.

It was first registered in 2013 and on its Facebook page it says it provided "specialised courier services; strategising to individual client needs".

ASIC records show that, at a general meeting on July 11, 2018, it was resolved that the company be wound up and that James Imray of Rodgers Reidy be appointed liquidator.

Rodgers Reidy confirmed to ATN that there are currently two known employees owed employee entitlements.

The amount of entitlements total to approximately $22,000, including superannuation.


Trucks still missing after rego fraud. Read more, here


Employees can apply to recover owed unpaid employee entitlements through access to the fair entitlements guarantee (FEG) scheme.

"If there are any other employees of the company owed unpaid employee entitlements, they should contact this office as soon as practicable," Rodgers Reidy notes.

Gladstone District Transport Logistics is one of 17 companies that owe at least 32 employees more than $570,000 in employee entitlements, ASIC says.

The powers to wind up companies were first used by ASIC in 2013, which has since dissolved 110 companies. The appointment of liquidators facilitates an 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.

Fastway told ATN the business "has not been associated with us since 2016" and declined to comment further.

 

You can also follow our updates by joining our LinkedIn group or liking us on Facebook