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

Restructuring & Insolvency 2023-05-31 4:39 pm By Sam Matthews | Melbourne

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”.