It’s Masters of the Universe versus civilians at Bain Capital’s Virgin Australia, where retail bondholders are gearing up for a high-stakes courtroom battle.
Street Talk can reveal the mum-and-dad investors who bought Virgin bonds – which were written down to about 13¢ on the dollar during the administration – are working with a team led by Corrs Chambers commercial disputes partner, Michael Catchpoole, to prepare an amended statement of claim expected to be filed by the end of the week.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
