The CFMEU retains control of the $1.2 billion redundancy fund Incolink. Here’s how

The head of a billion-dollar redundancy fund has warned employers’ group directors that the CFMEU could deprive them of tens of millions of dollars in payouts if they do not approve the union’s controversial expansion plans, in comments that raise serious governance questions for the industry.

Sources familiar with the subject told Australian Financial Review Incolink CEO Erik Locke, a former ALP Victoria secretary, wrote to the Master Builders Association Victoria late last year, warning that the CFMEU could be taking action to create a separate fund for workers or even sideline the employers’ group. He advised him not to impede progress. wood.

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