Ann: Liquidators Appointed, page-56

My guess is the money is gone, or the main guy would not be giving everyone the run around.
If they are now relying on ASIC they have NO CHANCE of ever resolving this. They probably will have more luck if they threaten to call in the Chinese executioners, and their chits for the cost of a bullet.

Did the CoSec actually verify the bank statements they sighted were real?? Chinese accounting has a really bad reputation for a reason.