Yes, I forget about that one. You are correct - the company, Flight West Airlines Pty Ltd, was acquired with an AOC and assets.
But the circumstances were very different. The company was not insolvent and was able to pay it's debts.
Not really into the discussion, but just to set the record straight flight west where insolvent (despite what they told everybody) and paid 0c in $ to unsuccured creditors like me. I lost a *****
of $ on them.