Brokers and Independent Insurance's liquidators PricewaterhouseCoopers (PWC) look set for a battle over the return of premiums.
PWC has renewed its calls for brokers to forward premiums not passed on to the insurer before its collapse.
"We're looking to reach a common agreement with brokers, without ruling out litigation," a PWC spokeswoman said.
However, Class Law partner Stephen Alexander, acting for the brokers have advised brokers to hold on to the money.
