Victoria’s failed $50 million bridge monitoring joint venture, Eloque, will have no cash left to return to taxpayers, corporate filings have confirmed after PwC was appointed to liquidate the company.

Eloque Pty Ltd, which was set up in Australia to remotely monitor bridges for cracks and other structural deficiencies, was scrapped suddenly in August, raising questions about how and why the Victorian government had spent $16 million of a $50 million budget earmarked for the joint venture.