The High Court yesterday (17 October) ordered the liquidation of HG Aviation Ltd, the operator of Regent Airways under Habib Group, over its failure to repay more than $3.7 million in aircraft lease dues to US-based Wilmington Trust Company.
A company cannot evade an acknowledged and payable debt by citing the possibility of securing investment in the future, the court said.
The court also appointed Supreme Court lawyer Asif Bin Anwar as a government liquidator to oversee the liquidation process and recover the outstanding amount of $3,709,827.38 for the creditor.
The court directed him to begin the process…