Originally Posted by
Icarus2001
I believe the first creditors meeting is this Thursday 30 April. They applied to the court to allow a video conference.
I'll be very interested to learn what Virgin's cash balance was when they entered administration because there's something not quite right with how they went from ostensibly having '
a cash position in excess of $1 billion' on 13 March according to their advice to the ASX to '
fighting to survive on a day-to-day basis' according to Aggs on 17 April. Most analysts thought that $1 billion would have given them variously between three to eight months of runway and yet there they were just 38 days later trying to scrounge a $200 million grant to get through the next two weeks.
Something most assuredly does not add up there.