20 buyers now circling Virgin Australia

[MelbourneFlyer]

"Bain Capital has agreed to pay $750 million should it fail to buy Virgin Australia, an unusually high break fee that helped win over the collapsed airline’s administrator. The U.S. private equity firm made the pledge “to underpin its commitment to the transaction,” it said in a statement. Administrator Deloitte agreed to sell the struggling airline to Bain in June, though the deal’s terms weren’t made public." https://www.executivetraveller.com/n...over-bid-fails

[Inthestreet]

It looks like Deloitte’s are a whole lot smarter than the experts on here have given them credit for. They have secured a sale and given certainty to VA, which in turn gives uncertainty to QF. Could do worse than to use these guys for the upcoming QF administration.

[flyingfrenchman]

I assume there would be fine print attached to such a guarantee, eg they only pay it if it falls through for reasons under Bain’s control?

Originally Posted by MelbourneFlyer

"Bain Capital has agreed to pay $750 million should it fail to buy Virgin Australia, an unusually high break fee that helped win over the collapsed airline’s administrator. The U.S. private equity firm made the pledge “to underpin its commitment to the transaction,” it said in a statement. Administrator Deloitte agreed to sell the struggling airline to Bain in June, though the deal’s terms weren’t made public." https://www.executivetraveller.com/n...over-bid-fails

[smiling monkey]

Originally Posted by MelbourneFlyer

"Bain Capital has agreed to pay $750 million should it fail to buy Virgin Australia, an unusually high break fee that helped win over the collapsed airline’s administrator. The U.S. private equity firm made the pledge “to underpin its commitment to the transaction,” it said in a statement. Administrator Deloitte agreed to sell the struggling airline to Bain in June, though the deal’s terms weren’t made public." https://www.executivetraveller.com/n...over-bid-fails

That's a win-win for Deloitte's. No wonder they told all other bidders to p!ss off. LOL

[wheels_down]

They seem to have no limits on what they won’t do to get their hands on it.

Whats the big pull here? I thought the whole thing was/is a basket case.

Buy it for $4b?...injection...years of losses ahead...and somehow sell it for a profit late this decade?

[Section28- BE]

Commonwealth’s submissions for hearing 17 august 2020

Well.....- 'your' welfare/ 'their' hands................

Link here: https://www.fedcourt.gov.au/__data/a...020-855790.pdf

Would, this BE where the Minister/Deputy P.M. is at.....????, on the matter????

Hmmmmm- Now, 'you' ALL Good- 'Sharpie'........?????- just askin!!!! (need, any-single-thing?????, Mate).

rgds all
S28- BE

[SixDemonBag]

Originally Posted by Section28- BE

Well.....- 'your' welfare/ 'their' hands................

Link here: https://www.fedcourt.gov.au/__data/a...020-855790.pdf

Would, this BE where the Minister/Deputy P.M. is at.....????, on the matter????

Hmmmmm- Now, 'you' ALL Good- 'Sharpie'........?????- just askin!!!! (need, any-single-thing?????, Mate).

rgds all
S28- BE

I’m still wondering if this is a snowtam. Surely there’s and app that can decipher it

[Section28- BE]

You don't need it.....

[Mr Google Head]

Originally Posted by Sunfish

Yes Mick, the trouble is that Deloittes won't accept a market bid from the bondholders and the market doesn't know what bain bid because its a secret..

Ok I’ll bite....what’s the supposed humour in adding an ‘s’ at the end of Deloitte? (I presume it’s for supposed humour?) noticed it many times in this thread.

edit: possibly it’s just bad grammar? Either way it irks

[Mr Google Head]

Originally Posted by Blackout

Haha really?

Does it 'irk' you too when people say 'Finals' ??

I think humour is great and much needed in this industry...Especially right now!

Quote from the Joker:

"Why so serious"

ill take that as one vote for bad grammar since ‘finals’ is plural (that means more than one)

do you say the ‘grand finals’?

[Mr Google Head]

Originally Posted by Blackout

I was referring to some radio calls joining the Circuit.

do you say turning ‘finals’ in the circuit?....that’s even worse. How many ‘finals’ of the circuit are there? That irks me even more than ‘Deloittes’ 😂 What about turning bases....and downwinds...

thats up there with responding ‘climb to and maintain’ when the clearance was just ‘climb’

ok I’ll stop now

[Section28- BE]

Is not Annastacia, 'werkin' on All those Finals of which you blokes speak????- sorry, done now and gone.

rgds
S28

[Mr Google Head]

Originally Posted by Section28- BE

Is not Annastacia, 'werkin' on All those Finals of which you blokes speak????- sorry, done now and gone.

rgds
S28

that would be Annastacia of the QLD state governments I presume you’re referring to S28s? 🤪

[chookcooker]

Originally Posted by Mr Google Head

do you say turning ‘finals’ in the circuit?....that’s even worse. How many ‘finals’ of the circuit are there? That irks me even more than ‘Deloittes’ 😂 What about turning bases....and downwinds...

thats up there with responding ‘climb to and maintain’ when the clearance was just ‘climb’

ok I’ll stop now

glad I’m not the only one. Certain non-pilots here pontificating about how they know about PE, there’s only one possible outcome, and “Delloittes have been hoodwinked”. They can’t even spell the name of the business, but they sure know boats.
Drives me spare

[Section28- BE]

Originally Posted by Mr Google Head

that would be Annastacia of the QLD state governments I presume you’re referring to S28s? 🤪

Well- Yes, although there is only 1x Government in Queensland, at the moment.

rgds
S28

[Boeingpilot738]

So back on track from ‘finals’ and Deloitte’s’, what’s the bondholders next move? Have they got one? They don’t seem the type to go quietly into the night.

[Section28- BE]

Originally Posted by Boeingpilot738

So back on track from ‘finals’ and Deloitte’s’, what’s the bondholders next move? Have they got one? They don’t seem the type to go quietly into the night.

Well do concur, as such - without putting 'yourself' through 61x pages of that 'stuff (/was, going to say ****e)' for want of 'a' term....

It, ain't Done/nor squared-away....... In, a simple view- so yes, reckon 'more' and that is evidenced with what is being 'lodged'....

Good W/E and no onus in the above- could be ALL wrong
rgds/be Well
S28- BE

[MickG0105]

Originally Posted by Boeingpilot738

... what’s the bondholders next move? Have they got one?

1. If they legitimately believe that their initial application had legs, lodge an urgent interlocutory appeal against Monday's ruling.
2. Make a new and separate application challenging the administrator's decision to sell the business to Bain.
3. Circulate their DOCA to the creditors ahead of the second creditors' meeting with a view to at least securing a request from creditors to the administrator for more information, potentially delaying a vote on the Bain DOCA.
4. Any two or all three of the above.

[Sunfish]

Deloitteses sounds even better.

[1A_Please]

Bondholders have withdrawn their offer on the basis they couldn't make it unconditional. Claim they will be back if necessary but really they have little hope and never did. https://www.theaustralian.com.au/bus...8981338b7f3a7e