PPRuNe Forums - View Single Post - Flightline into administration
View Single Post
Old 3rd Dec 2008, 13:50
  #21 (permalink)  
cldrvr
 
Join Date: Jan 2008
Location: MAN
Posts: 769
Likes: 0
Received 0 Likes on 0 Posts
Curry,

According to ATI an administrator has been appointed, this means that the administrator is now in charge of the company and its assets including bank accounts and any cash holdings. The administrator will among other duties try to reach an agreement with the current secured debt holders and see if the company can be sold, broken up or restarted. All unsecured debt holders, such as among others employees that are owed salaries and or expenses will come last in line.

The administrator, KPMG is the one to contact if you are a debt holder, whether secured or un secured.
cldrvr is offline