VIRGIN CLASS ACTION

FORMER Virgin Australia bondholders have accused the airline, its former CEO Paul Scurrah and former chairman Elizabeth Bryan of omitting crucial financial information from a 2019 prospectus.

London firm Balance Legal Capital is funding a class action which has been filed on behalf of bondholders in the Federal Court of New South Wales. Virgin said it had not yet been served with proceedings but did not expect any financial consequence from the case. Mr Scurrah and Ms Bryan said they were unable to comment on details of the case. “We anticipate any such proceeding will be robustly defended,” they said.