IT'S hard to know which is more mythical. The Phoenix – feathered metaphor for perpetual renewal - or successful applications to the Assetless Administration Fund (AAF).
Launched in 2005 and administered by ASIC, the AAF has been a source of diminishing assistance in recent years.
In 2009/2010, ASIC doled out $3.17 million to insolvency practitioners with no cash and grounds for investigation. The following year they had to manage with $2.84 million. That shrank to $2.16 million in the year just past. AAF allocations prior to 2009/2010 are not made public.
Launched in 2005 and administered by ASIC, the AAF has been a source of diminishing assistance in recent years.
In 2009/2010, ASIC doled out $3.17 million to insolvency practitioners with no cash and grounds for investigation. The following year they had to manage with $2.84 million. That shrank to $2.16 million in the year just past. AAF allocations prior to 2009/2010 are not made public.