Ticket-holders urged to make claims known

Press, 28 January 1986, Page 4

Ticket-holders urged to make claims known

PA Wellington People holding unused tickets for flights on Air Albatross should make their claims known to the airline’s liquidators as soon as possible. One of the liquidators charged with winding up the airline’s affairs, Mr Tolmle Scoular, said he was concerned that many ticket-holders would be uncertain of the procedure to follow to file claims.

He said a public notice had been issued asking creditors to file proof of debt claims by February 28.

While this was usually sufficient with most liquidations — as the liquidators usually knew the creditors — the Air Albatross case was complicated by the relatively large number of ticketholders who could not be reached directly.

Mr Scoular said ticketholders should write to the liquidators, who work for the Wellington accountancy firm Coopers and Lybrand.

“We will then send them back a proof of debt form, which they should complete — and send back to us, together with the unused tickets.”

Mr Scoular emphasised that the February 28 date did not necessarily mean that anyone wanting to make a claim after that date would be precluded from doing so.

“The effect of the date is that if all the money is in by that time, I can start distributing it,” he said.

Air Albatross is estimated to owe $5 million to 200 people, many of whom are holders of unused tickets. About $2 million of the airline’s debts are . owed to unsecured creditors, which ticket-holders are considered to be.

Figures available to the

liquidators show debts outweighing assets, and there is expected to be a considerable shortfall, leaving many creditors empty-handed.