Pilots, pollies, passengers concerned as Virgin Australia enters voluntary administration

Voluntary Administration

Virgin Australia, the second-largest carrier of Australia following Qantas, is burdened with a $5-billion dollar debt and has entered into voluntary administration with the appointment of accounting firm Deloitte to oversee the process. The company will either: sell assets, reach an agreement with creditors, cancel debts or liquidate. The airline will continue to operate its…

Project Group residential, commercial builder goes into administration

Voluntary Administration

Project Group Constructions, a melbourne-based builder working on residential and commercial projects with a contract value of about $190 million, has gone into voluntary administration. Burnley-based Project Group, a company with about 100 staff, went into administration on Friday with a preliminary estimate, excluding employee entitlements, of $22 million in debts – $7 million of…