The trustee for Strategic Finance is considering a proposal to wind up the company's loan book.
Perpetual has asked PriceWaterhouseCoopers to review Strategic's plan as an alternative to putting the firm in receivership.
Strategic has frozen repayments to 15,000 investors, who are owed $325 million.
Last month a management-led consortium to buy the business from an Australian investment company, Allco HIT, fell through.
Separately, the Australian investment firm Allco Finance Group, which led a consortium to buy Qantas last year, has been placed into voluntary administration.