PPRuNe Forums - View Single Post - The Future Of Ansett, Post Election?
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Old 11th Nov 2001, 15:32
  #19 (permalink)  
gaunty

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Join Date: Jul 1999
Location: Australia
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Don't get me wrong guys.
I'm not anti or pro Ansett, just been there and done that over what seems like a thousand years in this business with a never ending panoply of adventurers, administrators and dreamers.
To a man they all know better, what to do next and have an eerie attraction to "mad hatters" and other "Alice in Wonderland" characters.
They are mostly always, stark staring naked.

The administrators have of course the right to do whatever they feel is possible to preserve and protect the remaining assets whilst they sort out the mess.
Their major obligation is not to make it any worse than it was, ie. have less to distribute than they started with.

The AN staff would be a major creditor and therefore have major rights and entitlements.
If they were not truly consulted and advised of the downside risks associated by the IMHO dubious actions in regard to Ansett2Marks then who is liable for a shortfall.
The game that is being played by others with their assets (entitlements) is very dangerous and has all the hallmarks of winding up as they usually do.
The AN staff (the little guy with family, dog, car and mortgage repayments) will as usual wind up with a mouthfull of feathers and an earful of platitudes.
"We have vigourously pursued...blah, blah, blah, ...... but have been unable to succesfully blah, blah..... secure a viable blah blah......... business going forward (the current "in" term)......we regret..... the remaining assets (we flicked off the really valuable bits to our mates) will now be disposed of in an orderly blah blah...the Government despite assurances blah blah....and after deducting our administration fees we expect to be able to distribute blah blah...."

Ask the hard questions at the Creditors meeting and don't settle for weasel words.

A bird in the hand is ALWAYS worth more than two in the bush, especially in Melb.
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