Originally Posted by
Tommy Bahama
Considering all the "smiles", "back slapping", "she'll be right mate" and "don't worry we've got your backs" from Virgin and Deloitte can someone explain why if its such a great idea this Voluntary Administration wasn't undertaken years ago?
The way its being promoted its all "fun in the sun". One would hope those who have far exceeded their station in life wont get away with it this time and will be held accountable.
Also, if a sufficient-but-small number of creditors object, they can force the company into liquidation - for example, if the creditors think they'll get a better return if the company and its assets are broken up and sold off, compared to if they take a haircut on their loans.