20 buyers now circling Virgin Australia

[Section28- BE]

ex: FEDERAL COURT OF AUSTRALIA (FCA) on 11/08/2020- Transcript.......

(Bolding)

Originally Posted by Turnleft080

$800 million capitalisation under the plan. Are the bondholders still thinking they can go through this, even when Bain's holding a binding agreement.
https://www.smh.com.au/business/comp...13-p55lbp.html

Yes, they are very much of that view, and are in the Federal Court on that very matter, it was adjourned on Tuesday 11 August- before Justice Middleton.

Transcript here: https://www.fedcourt.gov.au/__data/a...4-20200811.pdf

To reconvene- Monday, 17 August at 11:15 (AEST)- with regard to the Bondholders access to (/or lack thereof...) information, stakeholders and facilitation for the assembly of a (second) Deed of Company Arrangement (DOCA), to be presented at the Second Creditors Meeting (where, a DOCA must be adopted/passed by that meeting in Number of Votes and Value).

The Court is receiving 'Submissions' from the involved parties in the interim.

Bondholders have also, made application for the appointment by the court of a formal 'Facilitator'.

'Mention' was also made- as to the possibility of having to extend out the timeline for the Second creditors meeting, based on where the process is at and what needs to occur, prior that meeting.

Also, the Wells Fargo/engines, etc. matter shall follow this one at 14:15 on 17 August.

Could be wrong, but- that was my quick read of it, there are 31 pages of it......

rgds all
S28- BE