Expressions of Interest are being sought for Geelong-based Adrian G Mathieson and Associates, which has been trading for around 25 years as a general insurance agency and brokerage.

The business, which is an authorised representative of the Community Broker Network (CBN), earned operating net commission revenue of $260,000 last year.

PricewaterhouseCoopers Partners Robert Ditrich and Craig Crosbie are managing the sale after being appointed liquidators under a late March court order relating to a debt owed under a prior business relationship.

The assets being sold are “quarantined” from that matter, PWC Business Restructuring Senior Manager Christopher Sequeira says.

“It’s a legacy issue,” he told insuranceNEWS.com.au. “It has nothing to do with the underlying business, which is sound.”

The brokerage comprises “a loyal residential and commercial customer base of around 360 clients, and 700 distinct policies, mostly in Victoria but some with operations across Australia.

The liquidators are seeking expressions of interest by tomorrow ahead of due dilligence, although there is some leeway on that deadline. All parties registering an interest will be required to sign confidentiality agreements. To register interest email ryan.a.ng@pwc.com.