Stephen Pearce extends its protection

A HIGH Court judge has extended court protection for two companies producing and selling pottery under the Stephen Pearce brand after being told two parties expressed interest in investing in them.

Mr Justice Peter Kelly yesterday granted applications by Gary McCarthy, for examiner Kieran Wallace, to extend the protection period to February 20 next to allow more time to formulate a scheme of arrangement for the companies. He also gave Mr Wallace until February 12 to present a scheme of arrangement to the court.

Mr McCarthy said Mr Wallace has identified two potential investors, one of whom had completed a due diligence and an offer was expected in days. Mr Wallace expected to then able to formulate a scheme of arrangement.