Virgin Australia's presumptive new owner Bain Capital has blasted two major bondholders for trying to disrupt the sale with their own rival proposal, saying it lacked credibility while claiming they approached Bain about a favourable side deal.
But Bain, which signed a sale agreement with Virgin’s administrator Deloitte in June, shot back at the two bondholders on Tuesday after they circulated a draft deal to creditors over the weekend in an attempt to drum up support for their proposal.“This proposal is conditional, incomplete, indicative and non-binding,” a Bain spokesman said in a statement. “The proposal is not credible, nor capable of progressing.
The spokesman said Broad Peak and Tor recently approached Bain about an unspecified “proposal”, which Bain rejected. The spokesman would not provide more details. Broad Peak and Tor have been contacted for comment. Deloitte and Bain have said the sale agreement they signed in June for Virgin's assets is binding and that alternative deals cannot be considered.
pwhatch Yes because real estate agents put cloned bonds using different agencies on people, on me 3 per residence or more. How is that legal
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