Government Loan to Virgin Australia
Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
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Thank God(us tax payers) that the govt held strong and didnt bail out VA. This would have been a bad signal to interfere way to much into the market and for tax payer money to be very badly spent on a risky loan to VA.
Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
What an arse IMHO.
Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
What an arse IMHO.
Join Date: Oct 2005
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Wondered where the 'True believer' had gotten to.
Lol!.. you funny bugger, guess you'll run to the Mods again now that it gets too hot for you huh?..."Oh Miss! Miss!!..Fliegenmong said..."
ha ha dobber!...get beaten up much as a kid did you buster?...pathetic..
Lol!.. you funny bugger, guess you'll run to the Mods again now that it gets too hot for you huh?..."Oh Miss! Miss!!..Fliegenmong said..."
ha ha dobber!...get beaten up much as a kid did you buster?...pathetic..
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Why would creditors allow someone to come in and buy it debt free when they can just liquidate the company and at least get something back? What am I missing here.
Evertonian
There will be no redundancies during administration. Assuming a new investor/investors are found, once the new entity is formed then that may no longer be the case as it moves out of administration.
Evertonian
Well whaddya know....
But there is intense industry speculation the appointment could be challenged by KordaMentha, a rival firm. Industry sources made it clear on Wednesday that KordaMentha would like to be the administrator to Virgin.
In the past, KordaMentha successfully leveraged its relationship with unions to replace Grant Thornton as administrator of steel maker Arrium in 2016. It also took over the administration of Ansett in 2002, but in the years later faced criticism over how long that work took.
In the past, KordaMentha successfully leveraged its relationship with unions to replace Grant Thornton as administrator of steel maker Arrium in 2016. It also took over the administration of Ansett in 2002, but in the years later faced criticism over how long that work took.
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Article ex ABC- Queensland prepares for economic fallout amid Virgin administration
Join Date: Jul 2007
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Strewth Buster- WOW...........
Now we have The Band, accompanied by the original Percussion/& String Sections- with the original Road Crew (using the very same Playbook....)..............!!!
Rgds
S28- BE
Now we have The Band, accompanied by the original Percussion/& String Sections- with the original Road Crew (using the very same Playbook....)..............!!!
Rgds
S28- BE
Evertonian
Thought it was the administrators were working for another company (andersons) and when they company appointed them administrators they left and formed their own company (kordamentha)
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Perhaps Kordamentha have **** in their own nest by the way they managed Ansett’s Administration? Aviators have long memories. Dragging out the Ansett Administration process and gleaning millions of dollars from potential creditors pockets so as to line their own could be the reason why they have not been successful this time around? Just a hypothesis.
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https://www.google.com.au/amp/s/amp....23-p54mi7.html
this is an excellent summary of the path Virgin should take
this is an excellent summary of the path Virgin should take
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Perhaps Kordamentha have **** in their own nest by the way they managed Ansett’s Administration? Aviators have long memories. Dragging out the Ansett Administration process and gleaning millions of dollars from potential creditors pockets so as to line their own could be the reason why they have not been successful this time around? Just a hypothesis.
KordaMentha got over the line in the Ansett case because they had support of the unions back then.
No such support this time around.
And 10,000 employees who are all creditors will certainly exceed the 50% by number vote required for Deloitte.
A lot of ex-Ansett employees are now at Virgin and even those who aren’t ex-Ansett are fully supporting Deloitte.
KordaMentha will only be interested in KordaMentha and won’t give a flying f@#k for the employees.
Greedy bottom feeding scum!!!