Assetless Administration Fund - Asset Recovery Grant

# Assetless Administration Fund - Asset Recovery Grant The Australian Securities and Investments Commission (ASIC) offers the Asset Recovery Grant opportunity, part of the revised Assetless Administration Fund guidelines. This grant provides crucial funding to liquidators of assetless companies to pursue legal action for asset recovery or compensation where misconduct has led to the dissipation of company assets. ## 🎯 **Purpose and Objectives** The grant aims to support liquidators in recovering assets for companies facing liquidation due to misconduct, ensuring fairer outcomes for creditors. It specifically targets scenarios where misdeeds caused company assets to vanish. ## 🏛️ **Issuing Body and Category** Issued by the Australian Securities and Investments Commission (ASIC), this grant falls under the primary category of **Legal Services** (151004). ## ✅ **Eligibility Criteria** Eligible applicants are liquidators appointed to companies in liquidation under: * Court-ordered winding up * Creditors' voluntary winding up * ASIC-ordered winding up (Section 489EA of the Corporations Act 2001) **Exclusions:** Liquidators of solvent companies voluntarily wound up by members or special purpose liquidators are not eligible. **Additional Mandatory Criteria:** 1. The company must be an 'assetless' administration. 2. A report under Section 533(1) of the Corporations Act 2001 must have been lodged with ASIC. 3. The liquidator must have a reasonable belief that misconduct caused asset dissipation. 4. Sufficient evidence must be available or likely to become available to support **asset recovery** or compensation claims. Applicants should consult the Asset Recovery Grant Guidelines for comprehensive details, including simplified definitions and explicit guidance for funding security for costs orders. ## 📝 **Application and Selection Process** This is an **Open Non-competitive** grant program. Applications for funding must be submitted via the ASIC Regulatory Portal: [https://regulatoryportal.asic.gov.au/](https://regulatoryportal.asic.gov.au/). No other specific instructions are provided. The total available funding is not specified. ## 🔍 **Keywords** Asset Recovery, Corporate Misconduct, Company Liquidation, Legal Services, Insolvency, Liquidator Funding, ASIC Grants, Australia Grants, Assetless Administration Fund, Corporate Law.