It was a great place to work when I was there despite some of the hassles and gave more than a few a good start in aviation. If it has gone bankrupt then the fallout among the directors will be devastating and I am not talking just about the directors unless there has been a change of ownership in the last couple of years.
The Darwin operation was a gold mine for a few years and despite a few hiccups along the way could have continued as such. However, I have heard that there were problems not entirely due to the operating environment in the NT. The charter operation was never dependent on the training arm or the steady stream of MECIR/ICUS from there.
I wondered about the health of the company when I recently saw an advertisement for a chief pilot given that the fellow who occupied that position when I was there was one of the best I have met.