An extension of time to comply with a statutory demand can even be given by a Court of Appeal (“CA”), thanks to a case published 2 days ago.
Complete Hire had failed in the WA Supreme Court to set aside the statutory demand issued against it by Terra Firma, so they appealed to the WACA.
However, at the time of appealing the decision, Complete Hire only had 5 days left to comply with the statutory demand.
So Complete Hire filed an interlocutory application in the WACA, seeking an extension until at least 7 days after the determination of the appeal.
The CA had to decide whether it had jurisdiction to make the extension.
The extension was subsequently granted (based on sections 1337B(3) and 459F(2)(a)(I) of the Corporations Act).
Lesson: statutory demands are technical and super prescriptive, requiring you to adhere to all of the time periods.
Therefore, get expert advice as soon as you receive one!
