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| BSP Recovery Actions |
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Ansett has now resolved BSP trust claims against hundreds of travel agents in Australia. Notably, Ansett has settled most of its larger trust claims against corporate agents located in Australia.
In 2002 Ansett commenced proceedings in the Supreme Court of Victoria against
CW Travel Australia Pty Ltd ("CWT") and one of its directors for the recovery of trust monies held by CWT on behalf of Ansett. Following a Court-ordered mediation, the proceeding against CWT and the director was settled in August 2002 on terms acceptable to the Deed Administrators and to CWT and its director.
In December 2003 Ansett commenced a further proceeding in the Supreme Court of Victoria against agents in the Flight Centre Group. Following a Court-ordered mediation, the proceeding against the Flight Centre agents was settled in April 2005.
Ansett has now commenced further proceedings against a number of travel agents located in Victoria and New South Wales to recover monies held by those agents on trust for Ansett. One of those proceedings settled in March 2006 upon payment by the travel agent of the full amount of Ansett's trust claim together with an amount in respect of interest and costs.
Ansett intends to issue further proceedings shortly against travel agents who have still not remitted monies to Ansett in respect of Ansett traffic documents issued by those agents between 27 August 2001 and 16 September 2001.
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Arnold Bloch Leibler