The administrators of Griffin Coal have received an extension before they have to call another creditors meeting.
KordaMentha yesterday applied to the Federal Court in Perth to delay the creditors meeting until May 1 at the latest, as it goes through the books of the Ric Stowe-controlled coal miner.
Griffin, and four associated companies, went into administration on January 3 with debts that could top $1 billion.
Administrator Brian McMaster told a creditors meeting 10 days later that he would apply for the extension due to the complexity of the matter.
By law, a second creditors meeting has to be held within 30 days.
Justice Neil McKerracher yesterday granted the extension, with KordaMentha able to apply for further extensions if necessary.
Griffin's debts include $44 million to trade creditors, $63 million in interest and other financial costs and a potential $300 million tax bill should capital gains be realised if assets are sold.
They also include $41 million to the company building Bluewaters 2 power station, a $173 million bill earlier negotiated with the Australian Tax Office and $538 million outstanding to bondholders.WA's oldest coal supplier employs about 500 people, mostly at its Collie mine.
Griffin had also not paid about $750,000 in compulsory superannuation contributions for employees, as well as some salary sacrifice contributions.
