Virgin says funder’s $5M security in investor class action ‘unsatisfactory’

Class Actions 2022-08-08 2:10 pm By Cindy Cameronne | Sydney

Virgin Airlines has argued a litigation funder’s indemnity for its legal costs is not enough for it to bring a class action on behalf of bond holders over a 2019 prospectus, claiming the airline expects to spend more than $5 million defending the proceedings.