The Department of Employment has recently announced the “Fair Entitlements Guarantee Recovery Programme”, a Government-funded programme “designed to strengthen recovery activity of amounts advanced under the Fair Entitlement Guarantee (FEG) scheme”.
As many will be aware, the FEG scheme (formerly GEERS) is a Commonwealth Government scheme under which the Government will voluntarily pay certain employee entitlements if employees are left out of pocket because of the financial collapse of their employer. Having paid the employees, the Government then takes over their rights to claim in the liquidation. However, very often, those rights are worthless, as the liquidator has no funds to distribute.
The FEG Recovery Programme aims to address this situation by funding liquidators to pursue recovery action against directors and others in order to bring funds into the insolvent company. Further information about the Programme, and information on how to apply for funding assistance, can be found on the Department of Employment website:
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