Extension of Convening Period

Summary by 6ix AI

Paradigm Biopharmaceuticals Ltd. has filed an application for an extension of the convening period for the second meeting of creditors due to its voluntary administration status. The Administrators are seeking up to three months to allow for further assessment of proposals for the sale or recapitalisation of the company. If the extension is not granted, the Administrators may have to recommend liquidation to creditors as no viable proposals would be ready by the deadline. The court hearing for this application is scheduled for late October.

Written by 6ix AI from the company’s filing. How 6ix writes summaries