In Unicross Nominees Pty Ltd (In Liq) v P2P Transport Limited, Travis Pullen, acting as the liquidator for Unicross Nominees Pty Ltd, sought an extension of time to commence proceedings for voidable transactions under s 588FF(1) of the Corporations Act 2001 against P2P Transport Limited. The need for an extension stemmed from the liquidator requiring additional time to obtain litigation funding and potentially conduct public examinations to assess the basis of the alleged transactions. Despite resistance from P2P Transport, arguing that the delay was due to inadequate action by the liquidators among other reasons, Justice Muir granted a six-month extension. The decision hinged on several factors, including the adequacy of the explanation for the delay, the prima facie substance of the claims, and the interests of the creditors. The judgment allowed the liquidator additional time until 9 November 2024 to pursue potential voidable transaction claims.
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