Page 38 - Bankruptcy Code News Today

The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay. Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to ...

It has implications for Reliance ADA Group chairman Anil Ambani, Videocon chairman Venugopal Dhoot, and Bhushan Power and Steel promoter Sanjay Singal, who also face personal-insolvency proceedings in the NCLT.

The court has granted access to lessors to their aircraft. The Airports Authority of India (AAI) will communicate with the lessors regarding export of aircraft and airworthiness

Go First stares at the risk of losing all 54 of its leased aircraft unless the companys resolution professional secures a stay within five working days.

The Delhi High Court on Friday ordered the de-registration of the planes leased out to Go First Airlines by various companies, and restrained the debt-ridden airline from flying them.

The Airports Authority of India (AAI) has been tasked with liaising with the lessors regarding the export of aircraft and ensuring compliance with airworthiness standards, as per the High Court's directives.

The NCLATs decision highlights the significance of timely action for creditors involved in IBC proceedings.

As you know from our prior alerts, creditors of borrowers formed as Delaware LLCs (as opposed to corporations) lack standing under Delaware law to sue directors for breaching fiduciary...

New Delhi: The Delhi High Court has directed the aviation regulator Directorate General of Civil Aviation (DGCA) to proceed with deregistering aircraft leased by Go First in the next five working days, media reports said.

In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company.