Business
Virgin co-founder breaks silence over role in rebel bondholder bid – Sydney Morning Herald
Virgin Australia co-founder Rob Sherrard has opened up over his role in a push by bondholders to claim ownership of the bankrupt airline and revealed he has enlisted the help of other former Virgin executives.
“We believe in the airline, firmly support the vision of management and are confident that Virgin can return to being a successful airline.”
Virgin’s administrators Deloitte has said the bondholders’ plan cannot be considered because it has already signed a binding sale deed with Bain. Despite that, the bondholder are taking court action to try and force Deloitte to put their alternative proposal to a vote at its second creditors’ meeting on September 4.
Bondholders, which include around 30 ma…
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