In the matter of Kisimul Holdings Pty Limited

Kisimul Holdings Pty Limited, the applicant, sought an order extending the time for complying with a statutory demand issued by a creditor, following a dismissed application to set aside the demand. The matter was heard in the Federal Circuit Court of Australia. The primary issue for the court was whether the extension of time for compliance with a statutory demand could be varied after the time for compliance had expired, and if so, under what circumstances. The court also had to consider whether an amendment to a judgment could be made under the slip rule, given that the motion was filed within 14 days, was unopposed, and caused no prejudice.

The court found that the extension of time for compliance could indeed be varied after the expiration of the compliance period, provided the creditor had not acted in bad faith and the variation was just and equitable. In this case, the applicant had not acted in bad faith, and the variation was considered just and equitable given the circumstances. The court further noted that, under the slip rule, an amendment to a judgment could be made where the motion was filed within 14 days, was unopposed, and caused no prejudice. As the motion met these criteria, the amendment was allowed.

Consequently, the court granted the applicant's request to vary the extension of time for compliance with the statutory demand and allowed the amendment to the judgment under the slip rule. The final orders included an extension of time for the applicant to comply with the statutory demand and the amendment of the judgment to reflect this variation.