The Brindabella Christian College administration could be a drawn-out process, but it offered the best opportunity to put the school back on its feet. Photo: Michelle Kroll
Brindabella Christian College parents, staff and students face an anxious wait over the next month before the school’s financial situation becomes clearer but the Deloitte administrators goal will be for it to continue operating, albeit possibly in a slimmer state and with repayment plans in place for its secured creditor, NAB, and the Tax Office.
The current board may also need to make way for the restructure to work and be agreeable to all parties.
National Head of Restructuring & Recovery at RSM Australia Frank Lo Pilato said a first creditors meeting would have…
