All Class Insurance Brokers took the decision to wind up and liquate the business back in April according to a notice posted on the ASIC website.

The decision was made at a general meeting of the members of the company on 17 April, where Darren Vardy of RMG Partners was appointed liquidator.

Last Friday, a meeting of creditors was held at the RMG Partners officers.

Meanwhile, insurance giant QBE has vowed to work with all parties involved to ensure a positive outcome.

A spokeswoman for QBE said: “We will work with Steadfast, the appointed receiver and the impacted QBE insureds to achieve the most positive outcome possible."

ASIC would not comment on whether it is investigating All Class.