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JAKARTA: PT Garuda Indonesia faces a court ruling yesterday on a debt suspension sought by a vendor that would buy it time for a restructuring that is testing how far Indonesia’s government will go to rescue a state-owned company.
The government is preparing a plan for state-owned charter airline PT Pelita Air Service to take over Garuda Indonesia’s domestic routes as courts pass decisions, both favourable and unfavourable, over the financially-ailing national air carrier.
In the recent case of Helice Leasing SAS v PT Garuda Indonesia (Persero) Tbk ([2021] EWHC 99 (Comm)), the Commercial Court decided that the claimant, aircraft leasing company Helice, must arbitrate its claim against airline Garuda for more than $5,150,000 in unpaid lease rent under London Court of International Arbitration (LCIA) rules instead of proceeding by court action. The court upheld the parties' arbitration agreement pursuant to the lease agreement terms despite conflicting references therein which stated that the lessor could "proceed by appropriate court action" following an event ...
ADVERTISEMENT ADVERTISEMENT Indonesian Aircraft Lease Fight Sent To Arbitration In London Law360 (January 21, 2021, 8:07 PM EST) -- An aircraft leasing company must arbitrate its dispute over more than $5.1 million in unpaid lease fees with Indonesia's national airline in London, after an English judge on Wednesday rejected arguments that the dispute fell under a litigation exception in their pact. While noting that a pair of apparently opposing clauses on the proper venue for disputes arising under the deal are "not happily worded," Judge Neil Richard Calver QC nevertheless concluded the im...