News: No extension needed for Ansett sale deadline: administrators
Feb 25, 2002, 4:40 pm
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News: No extension needed for Ansett sale deadline: administrators
No extension needed for Ansett sale deadline: administrators
Ansett administrators have ruled out extending Thursday's deadline to finalise the airline's sale to the Tesna consortium.
The Federal Court in Melbourne was told yesterday that there are still problems involving final documentation with third parties.
Administrator Mark Korda says an in-principle agreement with Sydney Airport over terminal leasing arrangements, still needs to be put in writing.
He says the everything must be finished before Thursday, but is not saying what will happen if the sale falls through.
"We have drawn the line in the sand, that says Fox-Lew need to complete the sale transaction on Thursday.
"We've got this large process dealing with all the contractual documentation," Mr Korda said.
"We have an agreement in-principle with most of the airports including Sydney, but it's being documented at the present time."
Ansett administrators have ruled out extending Thursday's deadline to finalise the airline's sale to the Tesna consortium.
The Federal Court in Melbourne was told yesterday that there are still problems involving final documentation with third parties.
Administrator Mark Korda says an in-principle agreement with Sydney Airport over terminal leasing arrangements, still needs to be put in writing.
He says the everything must be finished before Thursday, but is not saying what will happen if the sale falls through.
"We have drawn the line in the sand, that says Fox-Lew need to complete the sale transaction on Thursday.
"We've got this large process dealing with all the contractual documentation," Mr Korda said.
"We have an agreement in-principle with most of the airports including Sydney, but it's being documented at the present time."
