The administrators of insolvent Bonza (AB, Sunshine Coast) have secured a two-month extension of their appointment as voluntary administrators of the airline. Australia’s Federal Court granted the extension in a May 27 hearing. Hall Chadwick said it needed the extra time to sell the business and its assets, which it claims is in the best interests of all creditors.
The administrators also said that its US-based owners, 777 Partners, had advised that they may wish to propose a deed of company arrangement…
Source: ch aviation
Read more: 777 Partners mulls restructuring of Australia's Bonza