ASX shares and liquidation

 About 18 months ago I bought 5k worth of shares in asx listed company BWX. The company has been placed into administration and the share trading obviously locked. 
My question is what do I do now? And how do I realise the loss and how do I apply for any money owing to me? If there is any. 

Thanks in advance 


sea-kem's picture

Posts: 14911

Date Joined: 30/11/09

 Straight off the ASIC

Thu, 2023-07-20 10:01

 Straight off the ASIC website 

Shareholders and liquidation

The liquidator’s main duty is to all the company’s creditors. The shareholders will only get paid any return on their shares in an insolvent liquidation after all creditors get paid in full. If shareholders also have a claim as a creditor, then they may receive a payment as a creditor (separate from any return on shares)

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Love the West!

Posts: 573

Date Joined: 23/04/14

Are you a creditor?

Thu, 2023-07-20 10:47

 Shareholders are pretty far down the list, as they aren't owed any money.

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Posts: 140

Date Joined: 09/01/12

 Send an email to the

Thu, 2023-07-20 12:23

 

Send an email to the administrator and ask them what they are planning to do with the company. They will advise if they are going to keep trading or lquidate. 

Saulty2's picture

Posts: 650

Date Joined: 28/05/10

all the news

Thu, 2023-07-20 13:36

 will be by the administrators on bwx web site , short story to this is once delisted then you have pretty well done your money, unless the company is taken over by another , even then they may issue you with new shares @ one 30th of the value you paid . i had the same with SO4 itl cost me $1,500.00  if i had to dispose of those shares...... assuming you continue trading shares then a capital loss can be offset by a capital gain further down the track   

Belly Fish's picture

Posts: 499

Date Joined: 09/03/12

Gonesky

Fri, 2023-07-21 13:38

 I also have BWX shares.  I am anticipating no return.  You will get advised when it finally happens, which is when you can realise the full loss.

J Mann's picture

Posts: 47

Date Joined: 02/09/15

ASX shares

Sat, 2023-07-22 20:03

Check out delisted.com.au. You should be able to take the tax loss. Better than nothing at all