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Joined: Sun Mar 25, 2001 4:32 am

Ansett: Worlds Biggest Creditors Meeting

Fri Dec 21, 2001 1:10 pm

Fri "Australian"

Millions more creditors for Ansett
By Steve Creedy
December 21, 2001

ALMOST a fifth of the nation will be entitled to some say on Ansett's future after confirmation yesterday that the airline's 2.6 million frequent flyer pointholders and its 1.3 million Golden Wing Club members are unsecured creditors.

About 4 million people in total could take part in what may be the world's biggest creditors meeting in Melbourne on January 29.

Ansett administrators, Andersen, said the meeting in the Melbourne Exhibition Centre would be webcast to give everyone a chance to participate and a hotline would be set up to answer queries.

But administrator Mark Mentha said it was yet to be determined how much weight their votes would be given.

The confirmation that frequent flyer and lounge members are unsecured creditors means there is no legal obligation for preferred bidder Tesna to honour the 70 billion oustanding points with its new scheme. However, the consortium has not ruled out some incentive to lure frequent travellers back to Ansett.

Posts: 399
Joined: Mon Oct 08, 2001 11:59 pm

RE: Ansett: Worlds Biggest Creditors Meeting

Fri Dec 21, 2001 6:58 pm

should be a good and long meeting