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Union attacks ASIC as toothless after John Valves collapses

One hundred and thirty Ballarat workers have been added to the unemployment queues and they do not hold out great hopes for their job prospects. After 6 weeks of administration, John Valves has gone into lidquidation giving workers little hope of ever seeing their missing $800-thousand of superannuation. It's angered the unions who have labelled the corporate watchdog, ASIC as toothless.

Tags: manufacturing, unemployment, ballarat-3350