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Registered liquidators

Seeking approval of remuneration for liquidators of abandoned companies

When you are appointed by ASIC to an abandoned company, you are required to seek our approval before you draw remuneration.

We can appoint registered liquidators from our Abandoned Company Liquidator Panel (‘Panel’) to wind up abandoned companies.

We can also appoint liquidators who are not on the Panel.

What remuneration can you claim?

If you are appointed from ASIC’s Panel, you will be eligible for a grant amount paid from the Assetless Administration Fund (AAF) (as at the date of publication, this is up to a maximum of $15,000 plus GST).

You can also seek approval for remuneration above the grant amount.

If you are not on the Panel, you can still seek remuneration, but will not be entitled to the grant amount.

There is no cap on the remuneration amount that ASIC can approve, and each matter will be considered on its merits.

Generally, we will only approve retrospective remuneration (that is, remuneration for work that has already been completed).

What should you provide to ASIC when seeking approval for remuneration?

In line with general industry practice for approval of liquidator’s fees, when seeking remuneration, you should provide us with:

Note: The maximum default amount for the period from 1 July 2025 to 30 June 2026 is $6,501. This amount will be indexed in future years and is therefore subject to change.

What is an itemised fee account?

An itemised fee account is a document which contains the following information:

  • a summary of the work performed (including work related to obtaining the Fair Entitlements Guarantee (FEG) advances)
  • the name of each employee engaged in the activity
  • the amount of time spent by the liquidator and each employee on major tasks performed during the period to which the invoice relates
  • the period during which the liquidator and each employee were engaged in the activity during the period to which the invoice relates
  • the charge-out rate of the liquidator and each employee engaged in the activity
  • any claimed disbursements
  • any recompense obtained from the Department of Employment and Workplace Relations in relation to the FEG advances, and
  • the total net recompense after deducting the FEG advances.

What is a remuneration report?

A remuneration report is a document which sets out:

  • a summary description of the major tasks performed
  • the costs associated with each of these tasks and how the costs were calculated
  • when it is anticipated that the funds will be drawn to pay the fees
  • an estimated total amount, or a range of, total fees
  • an explanation of the likely impact the fees will have on any payment to creditors, and
  • other information that will assist ASIC to assess the reasonableness of the fees claimed.

Who pays the remuneration?

If you are appointed from the Panel, ASIC organises payment of the grant amount from the AAF.

Approved remuneration over and above the grant amount can be drawn from the realisable assets of the company.

For liquidators that are not on the Panel, all of your approved remuneration may be paid from the realisable assets of the company.

Where should you send the documentation to?

Your request for remuneration and any supporting documents should be sent to the ASIC action officer who notified you of the appointment.