The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First airline, according to multiple media reports. A NCLT bench, led by Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, granted the liquidation petition filed by the airline’s Committee of Creditors, reported Bar and Bench. Go First’s lenders decided to liquidate…
Go First’s lenders decided to liquidate the bankrupt budget carrier’s assets in August of last year after rejecting bids by interest suitors. Go First will be the second airline which will go through the liquidation process. Subscribe to Notifications The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways, according to…
The tail fins of Go First airline, formerly known as GoAir, passenger aircrafts are seen parked on the tarmac at the airport in New Delhi, India, May 11, 2023. | Photo Credit: Reuters The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways after a request from the cash-strapped airline’s lenders.…
(Reuters) – An Indian tribunal has ordered the liquidation of Go First Airways after a request from the cash-strapped airline’s lenders, CNBC-TV18 reported on Monday. Go First Airways did not immediately respond to a Reuters request for comment. In August, Go First’s lenders had decided to liquidate the company’s assets after rejecting bids by interested…
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First Airways, reported Bar and Bench. A bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application filed by the Committee of Creditors (CoC) seeking the airline’s liquidation. “Liquidation is ordered,” the bench was quoted as saying.…
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India is an Associate in the Restructuring & Insolvency department, based in our Manchester office. India deals with all aspects of corporate insolvency, advising national and regional insolvency practitioners, company directors and creditors, on both non-contentious and contentious insolvency issues. This includes experience in assisting with the administration appointment and extension process, business and asset…
Justice Linda Chan adjourned the case until May 26 after hearing a petition from Ever Credit, a unit of Hong Kong-listed Kingboard Holdings, which makes laminates and chemicals. At the hearing, Ever Credit asked the judge to grant an immediate liquidation order, while another creditor requested a four-week adjournment. Country Garden’s lawyer, Jose-Antonio Maurellet, told…
An Australian luxury fashion retailer, which spruiked celebrities visiting its store and stocked some of the world’s most famous designers, has collapsed owing $16 million. After nearly 40 years of operation Harrolds was quietly placed into liquidation at the start of October. The company was founded in 1985 with its first store opened in Melbourne…