TAMAR Valley Dairy administrators have been granted more time to assess recapitalisation proposals for the company or the sale of the business.
Deloitte will hold a second creditors meeting on February 14 after a Supreme Court of Victoria yesterday granted an application for an extension.
The first creditors meeting was held on September 23 and a second meeting was due to be held next week.
Deloitte will hand a report to creditors before the February meeting that will summarise available options and their recommendations.
Joint administrator Glen Kanevsky said the extension was unanimously supported by the creditors committee.
``In our view, disclosing the current status of offers and our negotiations with interested parties may prejudice the process,'' he said. ``We are confident of achieving an overall positive outcome, but there are still some elements of the final structure of any transaction that need to be resolved before we can fully update creditors.''
Tamar Valley Dairy will continue to trade as usual until the end of February.