The Federal Court has granted administrators overseeing the collapse of Project Coordination more time to restart projects and pursue and realise company assets.
The family-run Canberra building firm entered into voluntary administration last month after nearly 50 years of operation in the ACT and NSW.
Administrators say about half of the projects the company was working on will be able to take steps to recommence work in the coming weeks.
Initial investigations into the company indicate the amount owed by the company is estimated to be $25 million to about 200 creditors.
The company had 16 construction jobs under way.
Most of the group's 67 staff members were made redundant at the time of administration.
Administrators, RSM Australia were granted an extension on the convening period of administration by the Federal Court.
This would mean an Administrator's report to creditors would now be delivered on or before June 30.
"Importantly, this extension allows us time to deal with asset, liability and building project-related matters, before we shift our focus to completing our investigations as Administrators and issuing a comprehensive report to all creditors that will include recommendations on the company's future," RSM Australia partner Jonathon Colbran said.
"It also gives us a chance to identify any potential parties who may wish to put forward a Deed of Company Arrangement (DOCA) to continue the company in some form," he said.
Mr Colbran said administrators had been in contact with the principals of 16 projects that were underway.
"The majority are heading in the right direction. We anticipate within the next few weeks more than half will have taken steps to recommence works," he said.
There has been a string of building company collapses in the territory recently.
Other companies include Rork Projects, Cubitt's Granny Flats and Home Extensions and Voyager Projects.
Well-established company, PBS Building, also entered into administration last year.
