(MENAFN– Bangladesh Monitor) Dhaka: The High Court has ordered the liquidation of HG Aviation Ltd, the operator of Regent Airways under Habib Group, as it failed to repay over USD 3.7 million in aircraft lease dues to US-based Wilmington Trust Company, according to media reports.
The court said a company cannot evade an acknowledged and payable debt by citing the possibility of securing investment in the future.
Supreme Court lawyer Asif Bin Anwar was appointed as government liquidator to oversee the process and recover the outstanding amount of USD 3,709,827.38 for the creditor.
He was directed to begin the process within a week and submit a report on HG Aviation’s liquidation within two months.
Justice Md Toufiq Inam of the High Court’s…