Virgin Australia (ASX:VAH) administrators file Chapter 15 petition

Virgin Australia (ASX:VAH) administrators file Chapter 15 petition



 

Virgin Australia (ASX:VAH) administrators Deloitte have filed a Chapter 15 petition in New York to recognise administration proceedings for the struggling airline in Australia.

Formal recognition of the Virgin Australia Holdings Ltd voluntary administration process in Australia has now been granted, recognising the administration proceeding under Australia’s Corporations Act as a foreign main proceeding as defined in Chapter 15 of the US Bankruptcy Code.

Shares in Virgin Australia (ASX:VAH) last traded at 9 cents.
 
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Source: Finance News Network

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