OCTAVIAR Limited's administrators, Deloitte has obtained an order from the Supreme Court of Queensland to extend the convening period for the second meeting of creditors.
Deloitte’s has gained a further 60 days extension to December 10.
In addition, the order has also adjourned the hearing to wind up Octaviar Limited, Octaviar Investment Note Ltd, Octaviar Investment Bonds Ltd, Octaviar Financial Services Pty Ltd and Octaviar Administration to December 18 from November 07.
Deloitte was appointed by the Public Trustee of Queensland, the largest creditor to Octaviar which alleges it is owed $351 million.
Other creditors include James Packer’s Challenger Managed Investments Limited owed $140 million; the Australian Taxation Office – $56 million; the Premium Income Fund and OPI Pacific Finance Limited owed $197 million and $300 million, respectively.
PIF and OPI Finance were previously managed by Octaviar but is now managed by
Australian Property Journal
