Is it possible to extend the Interim Order?

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ash717
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by ash717 » Wed Jun 21, 2017 8:45 am
Once an interim order has been granted for the mandatory 14 days is it possible to extend the Interim Order but under a different IP's name? Same firm but different IP.
Thank you
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kallis3
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by kallis3 » Wed Jun 21, 2017 8:52 am
Hi,

No idea but hopefully one of the experts can help.

Why does it need extending?
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ash717
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by ash717 » Wed Jun 21, 2017 8:55 am
Hi

It needs extending as clients have so far been unable to provide all necessary documentation as its a complex case.

Thanks
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kallis3
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by kallis3 » Wed Jun 21, 2017 8:59 am
I think you need to speak to your IP company asap to sort this out.
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Lisa Thomas
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by Lisa Thomas » Wed Jun 21, 2017 1:48 pm
I don't think it makes a difference who the IP is, especially as its the same firm here.

The point is to convince the Court that an extension is required.

Either IP (or their advising solicitor) should be able to clarify this for you.
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ash717
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by ash717 » Wed Jun 21, 2017 1:57 pm
Thanks Lisa that's very helpful.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 22, 2017 8:37 am
Let us know how you get on?
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Michael Peoples
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by Michael Peoples » Thu Jun 22, 2017 12:43 pm
Once the fourteen days are up the nominee must lodge the report and comments to the court. This paperwork details where and when a meeting will be held so the interim order is extended at this time to allow the meeting to be called. If no report is submitted to the court I was of the belief that the nominee would have to withdraw their consent to act and any bankruptcy petition would then proceed. Given that only one interim order can be granted in any twelve month period there would be little any other IP could do unless the petitioning creditor agreed to an adjournment.

You need to check with your IP and no doubt they are taking advice from a specialist insolvency lawyer so I would be interested on the outcome.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 22, 2017 2:44 pm
I have been able to get an interim order adjourned/extended in the past.
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Michael Peoples
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by Michael Peoples » Thu Jun 22, 2017 3:16 pm
We have had them extended to hold adjourned meetings past the fourteen days but not for the first application to the court. Glad to see it can be done but to be honest we have always tried to ensure that the full proposal could be lodged with the report and comments and avoid having to persuade a judge/master or registrar to extend. Apart from anything else it gives the petitioning creditor a further chance to object to the interim order and if they are a major creditor then the bankruptcy order could be made.
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