Court ratifies $200m Ansett payout

 
Old Oct 12, 01, 2:39 am
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Court ratifies $200m Ansett payout

Court ratifies $200m Ansett payout
From AAP
12Oct01

THE Federal Court has approved a $200 million-plus payout deal from Air New Zealand to Ansett.

Justice Alan Goldberg ratified the package which includes a $150 million cash injection from the New Zealand government and the waiving of Ansett debts to Air New Zealand.
The deal overrides a $400 million letter of comfort signed by Air New Zealand directors and takes away Ansett's right to pursue Air New Zealand for future payment.



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