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Old Feb 18, 2002, 7:36 am
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RichardMEL
 
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News: Ansett talks drag on over fine detail

Ansett talks drag on over fine detail
By LEONIE WOOD
Tuesday 19 February 2002

Ansett's administrators and representatives of the Tesna consortium held lengthy talks yesterday in an effort to nail down the final details of the airline's sale as the parties prepare for a Federal Court hearing this morning.

But as talks dragged on, it was unclear if the administrators, Mark Mentha and Mark Korda of accounting firm Andersen, would ask the court either to approve the $453 million sale or defer it yet again.

Insiders still believe the deal will be settled before the administrators' self-imposed deadline of February 28, but the parties are quibbling over the fine detail.

Each day the deal is delayed represents another $1 million of operating losses to come from the already small pool of returns to Ansett's creditors.

The court last week heard there was some dispute between the administrators and Tesna, controlled by Melbourne businessmen Lindsay Fox and Solomon Lew, about whether the terms of the sale contract allowed the administrators to sell plant and equipment that belonged to other parties.
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