Lawyers told the Federal Court that Bonza’s aircraft leases had been terminated last week, while emails confirm its backers knew in March of a plot to shut it down.
The lawyers for Bonza’s administrators have told the Federal Court the airline’s fleet will likely be removed from Australia as internal emails between its backers, its lessor and its financier confirm they knew of the plans to seize the planes weeks before passengers were left stranded.
The administrator on Tuesday said all Bonza flights until May 15 are cancelled, extending its previous cancellation period by one week. Customers with bookings during this period are advised not to travel to the airport. Two weeks later, Bonza received four notice-of-default notices for its leases. Two of them were signed by 777-cofounder Joshua Wander, and the two remaining were signed by AIP Capital general counsel Greg Kahn. Bonza’s lenders then engaged restructuring firm KordaMentha for advice on what to do with Bonza, even though the airline has repeatedly denied this.
“We are not presently in a position to assert that the aircraft are part of the administration. We are proceeding on the basis that the rights of termination were validly exercised prior to appointment,” Hutton said.against 777 Partners in New York and alleged the private equity group borrowed against $US350 million worth of assets it did not own, that did not exist or were promised to someone else.
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