Bain Capitals acquisition of Virgin Australia Holdings (VAH) is on track for October completion, administrator Deloitte has indicated in a letter to creditors and employees.
Creditors had on 4 September accepted a proposal that is structured around 10 deeds of company arrangement (DOCAs) for all 41 VAH entities in voluntary administration.
I confirm the DOCAs were executed today, 25 September 2020 and will be lodged shortly with the Australian Securities and Investments Commission (ASIC), Deloitte says in a same-day letter to creditors and employees.
It adds: As deed administrators we are required under the terms of the DOCA to make an application to court to seek consent orders for the transfer of the VAH shares to Bain Capital. We…
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