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239AY: Court may order that pooled property owners are separate class
or “Court can group pooled property owners separately for voting on company rescue plans”
You could also call this:

“Postponing the watershed meeting for up to 30 working days or longer with court approval”

You can delay the watershed meeting, but only for up to 30 working days from when it first started. If you need to delay it for longer than that, you have to ask the court. The court can then give permission to delay the meeting for more than 30 working days if they think it’s necessary.

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Next up: 239ABA: What creditors may decide at watershed meeting

or “Creditors choose the company's future at a crucial meeting”
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Part 15A Voluntary administration
Watershed meeting

239AZAdjournment of watershed meeting

  1. The watershed meeting may be adjourned, but only to a day that is not more than 30 working days after the first day on which the meeting was held.

  2. However, the court may, on the administrator's application, order that the meeting be adjourned for more than 30 working days.

Compare
  • Corporations Act 2001 s 439B(2) (Aust)
Notes
  • Section 239AZ: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).