The Reserve Bank of New Zealand’s (RBNZ’s) application to liquidate CBL Insurance will be heard in court next Thursday, instead of today.

A spokesman for Auckland High Court confirmed the adjournment to insuranceNEWS.com.au.

It is the second time the hearing has been delayed. It was originally planned for last month, but the RBNZ requested a deferral to let stakeholders present other options to the central bank and court-appointed interim liquidator McGrathNicol.

An RBNZ spokesman told insuranceNEWS.com.au it did not seek the latest deferment.

The latest adjournment is disappointing and worrying especially for shareholders, the New Zealand Shareholder Association (NZSA) says.

"NZSA and its members are frustrated and concerned by the delays in this case and in the case concerning the head company CBL Corporation,” CEO Michael Midgley told insuranceNEWS.com.au.

"Continuing delays without any explanation are causing whatever hope that may have remained in the minds of onlookers to evaporate. Lengthy delays also cause concern as to the possible impact on outcomes due to statutory limitations.”

CBL Insurance’s parent CBL Corporation is in voluntary administration.