Question: Problem-based question and advice sought- example Wings Away Airlines Ltd (WAA) is a regional airline operating in Victoria. It is in financial trouble. As a

Problem-based question and advice sought- example

Wings Away Airlines Ltd (WAA) is a regional airline operating in Victoria. It is in financial trouble. As a result of Covid 19, it grounded half of its fleet, and they remain grounded.

WAA also provided a very generous loan to one of its subsidiary company, Fledgling Pty Ltd, 12 months ago which was approved by the board.

The company's insurance premium is $250,000 per annum and is due to be paid by the end of the month.

Helena is the Chair and Managing Director of WAA and urgently seeks your advice.

Advise Helena of what she should do, and her legal rights and liabilities.

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