Ann: Suspension from Official Quotation - Annual Listing Fees, page-6

No, delisted just means you cannot trade them via ASX which makes finding a buyer (were any to exist) a much more difficult affair. You still own the shares. At some point the Administrators will have to make the call on whether they are worth anything (unlikely) and will do so once the Receivers (presumably) sell all the assets and hand the remaining shell back to the Administrators.

If (and it rarely almost never happens) the Receivers sell the assets for more than the amount owed to creditors plus their own fees, the balance from asset sales is returned to the Administrators (who also deduct their fees) for final distribution to shareholders before usually winding up the company (or handing the shell back to directors).

Usually nothing is left, and a declaration from the Administrators/Receivers that shares are worthless is issued and this formally crystalises a capital loss (so you can claim it on your tax return). It is a slow process however.

A delisting from ASX is not itself a capital loss crystalisation, but if you’re in a hurry you can sell shares to a ‘delisted company buyer’ for a fee (that exceeds the amount they give you for the shares you “sell” them) just so that you can claim a legitimate capital loss from the sale. That’s if you cannot wait for the Administrators/Receivers declaration. By doing so you forgo, of course, any final distribution were one to unexpectedly emerge from the asset sale process (as you no longer own the shares, the ‘delisted company buyer’ now does).

It’s not totally comprehensive but I hope this general outline helps.