Preferred creditors such as employees will be paid first - when the funds are there via the DOCA with the new owners or if the DOCA falls over out of the liquidated assets, and that will not be a fast process.
RAPAIR like everyone else was caught unawares I would suggest - nothing to do with their debt management as payment up to the point of cessation of trading was within credit terms.
The GU Aviation program is on the road to nowhere. USQ are ready to pounce and already have snatched GU staffers.
People wanting a full time aviation career are now working out what a waste of time it is to bother with the GUs of the world. Most aviation uni programs are finding it difficult to sustain numbers now that Vet Fee Help has provided a choice.
I disagree with the implication that "employees" are the victims here. Everybody involved is a victim - all the creditors ,club members and students.
Its just a shame that the Board and the most senior manager were so manifestly incompetent that a 96 year old company has been run into the ground while the rest of the staff and students were seemingly oblivious to what was happening. A number of the keen observers of the club who could see it coming - it was just a matter of when it occurred when the big drink from the trough caused it to run dry! Too many snouts going for it.