The powers that be are having posts of the facts taken down.
The facts were in a "notice to creditors" sent to members of RQAC and are therefore not "in confidence". Nor are they rumours.
The purchaser has failed to pay the funds by the extended deadline of 12 Jan 2017 and are not considered by Pilot Partners likely to complete the sales agreement which is now terminated.
Pilot Partners have no choice but to call a meeting of creditors to either vary the DOCA (if they have another purchaser up their sleeve) or liquidate the company.
The former CEO and his "holding team" have been paid out of monies lodged by the purchaser to date for quite a long time - all to no avail.
Any goodwill value of the Airline Academy of Australia which they hoped to continue I think has long evaporated.
Contracts they had with GU, USQ etc, have gone to other providers so there is nothing there. The fleet and Sims are owned by the banks, the buildings by AAC, so all that is left is a few goods and chattels which at a firesale auction won't amount to much.
The staff will get something out of the Federal Govt scheme if its liquidated, but unfortunately the other creditors won't be able to expect much. Like the banner of the Brisbane demolition guys of the past (Deen Brothers) - "we only leave you the memories"