Insured Group has been given a three-month extension on its $3 million debt to St George Bank.

The company was scheduled to settle with its financier and largest creditor yesterday. The new due date is December 31.

Insured Group’s attempts to raise $2.25 million to repay the sum were thwarted by the Australian Securities and Investments Commission, which issued stop orders on both prospectuses for the capital-raising.

MD Wayne Miller told the New Zealand Stock Exchange there has been “no material change to the financial position and performance stated in [the] preliminary results” issued in August.

Insured Group’s audited accounts will not be released until the end of this month because of the negotiations with St George Bank.