Jet Airways case: Dutch insolvency administrator moves NCLAT

Dutch Bankruptcy administrator on Friday moved the National Company Law Appellate Tribunal (NCLAT) on the Jet Airways matter, which has agreed to hear the case.

A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has also asked the Dutch bankruptcy administrator to assist in the insolvency proceedings of Jet Airways which is currently going on in India. Furthermore, the Dutch insolvency court administrator has agreed before the Tribunal to not sell the confiscated assets of the debt-ridden carrier.

It may be noted that NCLAT has also issued a notice to the consortium of Jet Airways’ lenders, directing them to file their reply within a period of two weeks. The Tribunal has further directed to list the matter on August 21, 2019, for the next hearing.

Earlier, the National Company Law Tribunal (NCLT), Mumbai, had rejected the appeal of Dutch insolvency administrator to recognise their proceedings. Read More

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