Virgin class action wants DOCA indemnity clause amended to reflect ‘what creditors were told’

Aviation 2023-05-31 4:39 pm By Sam Matthews | Melbourne

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A class action of bond holders accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a capital raising wants a contentious indemnity clause in the airline’s DOCA narrowed, in proceedings a judge has said “increasingly resemble a farce”.

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