Brindabella owed $37 million when it filed for bankruptcy

Canberra-based Brindabella went into receivership in December owing $37.7m say its receivers, and could have been trading while technically insolvent. The grounding of the airline caused 140 employees to lose their jobs – some $2.8m was owed to staff and more than $10m owed to the Commonwealth Bank. The majority of Brindabella’s aircraft were leased and have been returned to their owners, leaving four remaining planes and some maintenance assets.