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6th Aug 2020, 06:53
Replies: 792
Views: 258,523
Posted By Blackout

Ive heard this 'strong balance sheet moving...

Ive heard this 'strong balance sheet moving forward' being touted around lately. The fact is, the company is still in debt somewhat and will need to service those debts somehow.

If 'Value'...
6th Aug 2020, 05:04
Replies: 792
Views: 258,523
Posted By Blackout

https://www.smh.com.au/business/companies/a-fuzzy-...

https://www.smh.com.au/business/companies/a-fuzzy-vision-virgin-s-new-plan-is-full-of-mixed-messages-20200806-p55j4g.html

Food for thought.

The outlook is bleak which ever way you want to...
5th Aug 2020, 13:39
Replies: 792
Views: 258,523
Posted By Blackout

Thats if they had the intention of running the...

Thats if they had the intention of running the airline in the first place... Im sure the loan to VA was a good enough investment for them!

Desperate times, desperate measures rings a bell!
5th Aug 2020, 13:31
Replies: 792
Views: 258,523
Posted By Blackout

3000 jobs is a very conservative, randomly pulled...

3000 jobs is a very conservative, randomly pulled figure. The pitch is to make staff believe on waiting around to be rehired in seniority, renegotiate the EA, drive down the redundancy payments, then...
5th Aug 2020, 02:23
Replies: 127
Views: 36,319
Posted By Blackout

This is also an interesting piece: 44. As to...

This is also an interesting piece:

44. As to the orders staying the windings up, it was submitted that:

(1) there is presently a proposed restructure of the entire Virgin Group (including the...
5th Aug 2020, 01:26
Replies: 792
Views: 258,523
Posted By Blackout

There is another issue at play here. Assuming...

There is another issue at play here. Assuming this all goes ahead with Bain, the cost reduction implementations will in effect be primarily maintaining currency with B737 Flight Crew currently 'Stood...
5th Aug 2020, 01:04
Replies: 127
Views: 36,319
Posted By Blackout

June 2018 'Engaged' April 2019 'Declaration' ...

June 2018 'Engaged'
April 2019 'Declaration'
July 2020 'Affidavit'

Im sure there is more to it.

Im certain there is more coming regarding the whole VA Administration process, which quite...
4th Aug 2020, 23:49
Replies: 792
Views: 258,523
Posted By Blackout

I assume to maintain the AOC.

I assume to maintain the AOC.
4th Aug 2020, 22:39
Replies: 792
Views: 258,523
Posted By Blackout

I wouldn't be surprised if the Second creditors...

I wouldn't be surprised if the Second creditors meeting gets pushed back even further, maybe towards end of September. Im pretty certain the renegotiation of contracts would be One of the...
1st Aug 2020, 02:37
Replies: 127
Views: 36,319
Posted By Blackout

I underlined 'until further order' as I do not...

I underlined 'until further order' as I do not know what this could mean in reality. We were not privy to the Hearing as of yet, so everything is/has been speculation in my opinion.

Im glad we can...
31st Jul 2020, 14:34
Replies: 127
Views: 36,319
Posted By Blackout

"6. Pursuant to section 482(1) of the...

"6. Pursuant to section 482(1) of the Corporations Act, until further order, the winding up of each of the Companies be stayed."

I'm not sure what this means in reality, but I agree mostly with...
31st Jul 2020, 02:52
Replies: 127
Views: 36,319
Posted By Blackout

It is a 'form' of Financial guarantee. Just not a...

It is a 'form' of Financial guarantee. Just not a 'conventional' Guarantee & Indemnity.
31st Jul 2020, 01:53
Replies: 127
Views: 36,319
Posted By Blackout

https://www.fedcourt.gov.au/__data/assets/pdf_file...

https://www.fedcourt.gov.au/__data/assets/pdf_file/0007/78208/Order-3072020-2.pdf
31st Jul 2020, 01:52
Replies: 127
Views: 36,319
Posted By Blackout

​​​​​​"It is important to note that the...

​​​​​​"It is important to note that the 'guarantee' we're talking about here is not a financial guarantee - there's no implied cross guaranteeing of debts and liabilities"





VAH Newco 2 is...
31st Jul 2020, 00:13
Replies: 127
Views: 36,319
Posted By Blackout

"They couldn't have been too advanced with that...

"They couldn't have been too advanced with that work otherwise you would have expected that they would have picked up the fact that Newco 2 wasn't dormant."

10. On 24 April 2019, Geoffrey Smith...
30th Jul 2020, 15:45
Replies: 127
Views: 36,319
Posted By Blackout

Section, From what I understand so far,...

Section,

From what I understand so far, Voluntary Administration in this case would mean consolidation of the administration process making it easier for Deloitte to manage also, gifts Bain VARA...
30th Jul 2020, 14:55
Replies: 127
Views: 36,319
Posted By Blackout

G'day Mick, I haven't really looked that...

G'day Mick,

I haven't really looked that hard into all these documents, but insolvent trading might be an issue if not fixed?

"On 22 January 2020, the Companies obtained Foreign Investment...
30th Jul 2020, 13:01
Replies: 127
Views: 36,319
Posted By Blackout

https://www.keypointlaw.com.au/keynotes/guarantee/...

https://www.keypointlaw.com.au/keynotes/guarantee/


...
30th Jul 2020, 07:27
Replies: 127
Views: 36,319
Posted By Blackout

Im sure more Information on all these matters...

Im sure more Information on all these matters will be forthcoming soon:

APPLICATION IN THE MATTER OF VIRGIN AUSTRALIA HOLDINGS LTD (ADMINISTRATORS APPOINTED) ACN 100 686 226 & ORS
Hearing was...
29th Jul 2020, 11:25
Replies: 127
Views: 36,319
Posted By Blackout

G'day Section o'l mate, I think what we have...

G'day Section o'l mate,

I think what we have here is another episode in an ever unfolding drama.

Tune in tomorrow for more details...
29th Jul 2020, 05:17
Replies: 709
Views: 122,975
Posted By Blackout

Interesting documentary about Mental Health in...

Interesting documentary about Mental Health in the Military:

https://www.cchr.org/documentaries/hidden-enemy/watch.html

Im sure there are some parallels within Civil society. 'Mental Health' I...
29th Jul 2020, 03:27
Replies: 127
Views: 36,319
Posted By Blackout

I think this is the link Mick is referring too: ...

I think this is the link Mick is referring too:

https://www.fedcourt.gov.au/__data/assets/pdf_file/0019/78112/Affidavit-2772020.pdf

VAH Newco 2 in default:
$400 Mil, Unsecured Fixed Rate Notes...
12th Jul 2020, 06:20
Replies: 792
Views: 258,523
Posted By Blackout

Mick, Where did you come up with that...

Mick,

Where did you come up with that unequivocally conclusion? Is it stated somewhere? The application for the Panel was not refused, it was withdrawn!

"The application concerned, among other...
11th Jul 2020, 13:17
Replies: 792
Views: 258,523
Posted By Blackout

One step further Section and, to anyone...

One step further Section and, to anyone interested:

https://www.fedcourt.gov.au/media/online-file/NSD464of2020/interlocutory-hearing-20200710.mp4

They removed the Panel Application because the...
11th Jul 2020, 06:10
Replies: 792
Views: 258,523
Posted By Blackout

Mick, Fair to say it's all about the DOCA....

Mick,

Fair to say it's all about the DOCA. There are still steps to be taken by Bain to reach a DOCA. The way I read it, the door is still open for Legal action against Deloitte.

Interesting...
Showing results 1 to 25 of 111
 


 
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