On an application for extension of time under s 588FF(3), the three relevant considerations are: the explanation for delay, a preliminary review of merits, and prejudice. Where the liquidator seeks the extension to investigate and decide whether to bring proceedings, a preliminary merits inquiry may not be necessary. The intervention of a deed of company arrangement that compresses the effective time available to the liquidator after appointment constitutes a proper explanation for delay.
The full text is available to signed-in members, including the 52 later cases that cite this judgment.
8 of the 52 citing cases carry a classified treatment. How each court treated it is available to signed-in members.