Fed: Administrators have 3 days to arrange Sydney terminal sale
MELBOURNE, April 29 AAP - Ansett administrators have only three days to arrange a saleof their Sydney airport domestic terminal lease before the airport owners have the rightto declare a forfeit and buy back the lease.
The Federal Court today refused an application by Ansett administrators to defer thesigning of a deed of sale arrangement, which Sydney Airport Corporation claims will triggera buy-back clause in the Ansett lease agreement.
Administrators had requested a one-month extension on signing the deed, to give themtime to put the lease up for tender.
The court was told a sale by tender would return more to Ansett creditors than a forcedsale back to Sydney Airport Corporation.
AAP jmw/szp/clr/wjf
KEYWORD: ANSETT COURT LEAD
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