VAH 0.00% 8.6¢ virgin australia holdings limited

can I sell my shares?, page-50

  1. 305 Posts.
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    When you say senior bonds I assume you're referring to the large chunk that are secured. As you say they will likely take a haircut. Below that you have a smaller amount of listed unsecured bonds (YAHHA) issued late last year, which normally will get nothing until all secured creditors are paid out. I say normally because there apparently is some clause that changes their status if an administrator is appointed. I can see a legal sh!t fight occurring here. At the very bottom are the shareholders.
 
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Currently unlisted public company.

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