Tesna determined Ansett deal will fly

Published: 8:28AM Tuesday February 26, 2002

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Thursday's sale deadline for Ansett will be met, even if three legal deadlines have not, purchaser Tesna Holdings said on Monday.

Three attempts to get the sale ratified by the Federal Court have failed because documents were not ready.

The application was deferred indefinitely when administrators' lawyers admitted many vital sale documents were incomplete.

Counsel for the administrators, Simon Whelan, QC, told the court the parties were having difficulties completing documents.

However Tesna struck a new agreement to settle outstanding third party property issues, which enabled the sale to go ahead without a court appearance.

Speaking outside the court, administrator Mark Korda said the February 28 date remained "drawn in the sand".

Failure to make the deadline was "a bridge we'll cross when we come to it", he said.

Administrators are still waiting to sign off documents transferring leases on 19 aircraft and the airport terminals of five capital cities, including Sydney.

Tesna principals Lindsay Fox and Solomon Lew refused to comment as the countdown to the sale date loomed.

Source: AAP

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