Originally Posted by
Con Catenator
One of the bidders has made the point that Virgin's liquidity position remained a going concern, with the central question being whether the airline could make it to the second creditors' meeting in August and still be solvent. So, the question is why would anyone bid for the company now, when it would be much cheaper to wait for receivership which would remove all liabilities to creditors and allow a clean slate to start again?
correct me if I'm wrong, but can't admin get rid of a lot, maybe not all creditors ?