20 buyers now circling Virgin Australia

[MickG0105]

Originally Posted by Icarus2001

If that were the case then a vote would not be required.

The vote is not on whether the business should be sold to Bain - that has happened under the administrator's rights under section 437A (437A allows an administrator to act unilaterally to sell the company's business without reference to the creditors).

What the creditors are voting on is:

1. whether to accept the DOCA prepared by Bain,
2. take the business out of administration, or
3. liquidate it.