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Assetless Administration Fund - Asset Recovery Grant
Australian Securities and Investments Commission · Australia
The Asset Recovery Grant provides funding to liquidators of assetless companies to recover certain assets or seek compensation for loss where misconduct caused company assets to dissipate. Applications are submitted through the ASIC Regulatory Portal and the opportunity is ongoing.
Deadline
Rolling / Ongoing
Location
Australia
Who Can Apply
• Applicant must be a liquidator appointed to a company in liquidation in a court-ordered winding up, creditors' voluntary winding up, or ASIC-ordered winding up under section 489EA of the Corporations Act 2001
• Liquidators of solvent companies voluntarily wound up by members are not eligible
• Special purpose liquidators are not eligible
• The company in liquidation must be an assetless administration
• A report under section 533(1) of the Corporations Act 2001 must have been lodged with ASIC
• The liquidator must have formed a reasonable belief that misconduct occurred which caused dissipation of assets
• Sufficient evidence must be available or likely to become available
Eligible applicants are liquidators appointed to a company in liquidation in a court-ordered winding up, a creditors' voluntary winding up, or an ASIC-ordered winding up under section 489EA of the Corporations Act 2001. Excluded are liquidators of a solvent company voluntarily wound up by its member and special purpose liquidators. Applications must also meet four criteria: the company in liquidation must be an assetless administration; a report under section 533(1) of the Corporations Act 2001 must have been lodged with ASIC; the liquidator must have formed a reasonable belief that misconduct occurred which caused the dissipation of assets; and sufficient evidence must be available or likely to become available.
What's Funded
Funding supports liquidators of assetless companies to undertake preliminary action and/or legal action to recover assets or pursue compensation for loss arising from misconduct, including guidance regarding funding for security for costs orders to support asset recovery.Expected Outcomes
Recovery of company assets, pursuit of compensation for loss, and legal action addressing misconduct that caused dissipation of assets in assetless company liquidations.Key Information
Applicant Types
other
Stage
any
Funding Purposes
other
Keywords
assetless administrationasset recoveryliquidatorcompany liquidationmisconductlegal actionASICcorporate insolvency
Frequently Asked Questions
1
What is the Assetless Administration Fund - Asset Recovery Grant?
The Assetless Administration Fund - Asset Recovery Grant is a business grant offered by Australian Securities and Investments Commission in Australia. The Asset Recovery Grant provides funding to liquidators of assetless companies to recover certain assets or seek compensation for loss where misconduct caused company assets to dissipate. Applications are submitted through the ASIC Regulatory Portal and the opportunity is ongoing.
2
Who is eligible for the Assetless Administration Fund - Asset Recovery Grant?
- Applicant must be a liquidator appointed to a company in liquidation in a court-ordered winding up, creditors' voluntary winding up, or ASIC-ordered winding up under section 489EA of the Corporations Act 2001
- Liquidators of solvent companies voluntarily wound up by members are not eligible
- Special purpose liquidators are not eligible
- The company in liquidation must be an assetless administration
- A report under section 533(1) of the Corporations Act 2001 must have been lodged with ASIC
- The liquidator must have formed a reasonable belief that misconduct occurred which caused dissipation of assets
- Sufficient evidence must be available or likely to become available
3
What activities are funded?
Funding supports liquidators of assetless companies to undertake preliminary action and/or legal action to recover assets or pursue compensation for loss arising from misconduct, including guidance regarding funding for security for costs orders to support asset recovery.
4
How do I apply for the Assetless Administration Fund - Asset Recovery Grant?
Start by checking your eligibility using the free Beta Docs eligibility checker. If eligible, Beta Docs' AI-powered platform can help you draft, review, and refine your application to maximise your chances of success.
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