The creditors of failed Australian investment bank Babcock & Brown Ltd have voted to wind up the company, Deloitte, the liquidator for the company said today.

The vote authorises Deloitte to investigate matters related to the group's collapse including potential conflicts of interest between the boards of Babcock & Brown and affiliated company Babcock & Brown Pty Ltd which held most of the assets of the group.

The liquidator would look into several aspects including possibility of inadequate disclosure regarding public offer documents, review the company's risk management processes and the solvency of the group at various points and the possibility that it may have traded while insolvent before it collapsed.

"In particular, we are interested to further investigate a key question: At what stage did the BBL directors have regard to the interests of the noteholders and creditors in making their decisions about the conduct of the group's business?" Deloitte liquidator David Lombe said in a statement.

Deloitte said there are limited funds available to pursue these matters and it is requesting creditors and noteholders contribute $400 each to self fund further investigation and possible legal action.

According to Deloitte since there are limited funds available to pursue the matters, it is requesting creditors and noteholders to contribute $400 each to self fund further investigation and possible legal action.

Deloitte were appointed administrators in March following the collapse of Babcock from a $3.8 billion debt. They had told creditors that liquidation was the only course as no rescue plan had been put forward.

In a report to creditors released 10 days ago, the liquidator had also raised questions about a $40 million loan, Babcock extended to bail out failing stockbroker Tricom, last April.