Deloitte ‘does not expect’ there will be sufficient recoveries to repay VA creditors in full

    Virgin Australia (VA) stated (30-Jun-2020) Deloitte announced on 29-Jun-2020 that it does not expect there will be sufficient recoveries to repay creditors in full. On this basis, under Section 104-145 of the Income Tax Assessment Act 1997, Deloitte declares that it has reasonable grounds to believe that there is no likelihood that shareholders of Virgin Australia Holdings Limited will receive any distribution for their shares.