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Anglo-Australian law firm Norton Rose Fulbright is one of several firms acting in the voluntary administration of the Virgin Australia airline.

A source with knowledge of the deal said the firm is acting for some of the creditors to the airline but declined to provide specifics. Local firm Corrs Chambers Westgarth is acting for some of the airline's bondholders.

A host of domestic and international law firms are working the voluntary administration of Virgin Australia after the coronavirus crisis and its high debt put its future in doubt.

The Virgin Australia board put the airline into voluntary administration—similar to the Chapter 11 bankruptcy protection in the U.S.—on Monday night after the government refused financial assistance to the airline and major shareholders Singapore Airlines and Etihad Airways, Chinese conglomerates Nanshan Group and HNA Group declined to further support the carrier.

The Australian top-tier firm Clayton Utz, including Sydney-based restructuring partner Tim Sackar, is advising the administrator Deloitte. The firm had been advising management before the company entered administration.

Deloitte said it was aiming for a quick sale of the airline and at least 10 separate parties had already expressed interest in the airline.

"There are an extraordinary number of parties who are very keen to be involved in the process and the restructuring to see if they can play a part in the relaunch of the business going forward," Vaughan Strawbridge, one of the Deloitte administrators, told reporters after the announcement.