Unpaid Super Claim: Doubts Grow Over Guvera’s Future
Some observers believe the future of Australian music streaming company Guvera is in considerable doubt, following not only the recent decision by the ASX to block its plans for a stock exchange float that sought to raise as much as $300 million, but also decisions late last week to place two subsidiaries, Guv Services and Guvera Australia, in voluntary administration, owing an estimated $15 million to creditors.
The situation has been exacerbated following allegations at last week’s creditors’ meeting that the company had failed to pay some compulsory employer superannuation contributions for as long as two years.
“The entire time I worked there I received payslips that recorded my super was being deducted,” one worker reportedly told the Australian Financial Review. “But it turns out none of it was ever actually paid into my super fund.
“Some of the other guys are now finding out that their super hasn’t been paid for more than two years.”
Guvera Australia is listed as owing roughly $13 million, mostly to music labels and music rights licensing organisations. Guvera Services owes some $2 million, most of it to the Australian Tax Office.
Guvera co-founder and CEO Darren Herft, pictured,who did not attend the creditors meeting, has denied that some staff have not been paid their super entitlements for more than two years.