“While we maintain that our recapitalisation plan represents a superior outcome for Virgin Australia and its stakeholders, we acknowledge the Federal Court’s decision. We are undoubtedly disappointed,” the spokesman said.
“Australia deserves a strong second airline, and we genuinely believe our recapitalisation proposal is the best long-term option for Virgin Australia and its stakeholders. It represents a superior outcome for all stakeholders and maximises the return to creditors, which is the primary objective of the Voluntary Administration process.”
“Unfortunately, for now, we are left with no choice after the Federal Court decision but to withdraw our proposal,” they said.
The bondholder proposal for the company would have seen Vi…
Read the full article at: https://www.afr.com/companies/transport/bondholders-rival-bid-for-virgin-crash-lands-20200821-p55o5e
