 Meetings of creditors and shareholders to consider any scheme of arrangement must be held within 35 days (or within a longer period on application to the High Court) from the date of appointment of an examiner.In practice, the meetings of creditors and shareholders rarely take place within the first 35 days of the protection period and the examiner usually applies to the High Court for an extension of time in which to file his report.That period can be extended beyond the initial 70-day period (to a maximum of 100 days from the date of presentation of the petition) if the examiner demonstrates to the court that, although he cannot do so within the 70 days, he will be able to report to the court if additional time is afforded to him.