Creditors of CBL Corporation will now convene sometime before November 17 after voluntary administrator KordaMentha secured court approval to adjourn this Friday’s meeting.

The creditors’ meeting has been held back several times for various reasons.

KordaMentha’s Brendon Gibson and Neale Jackson say the latest delay is needed to take into account a Reserve Bank application to liquidate CBL subsidiary CBL Insurance.

The liquidation hearing in the High Court, planned for last month, has been put back.

“The late adjournment of the CBL Insurance liquidation hearing has necessitated extending the watershed meetings to allow time to consider the impact the deferral has on the options available to the companies we control,” Mr Jackson said.

“One of the options we are considering is whether to proceed with resolving the position of the companies that are in administration, despite not knowing the outcome for CBL Insurance.

“But at this stage that is not our preferred option.”