Page 5 - Bankruptcy

'Risky jurisdiction': Aircraft lessors raise alarm over Go First crisis

SMBC, along with firms such as Jackson Square Aviation and Bank of China Aviation, raised the alarm after a tribunal gave Go Airlines (India) Ltd bankruptcy protection to allow it to revive itself

With bankruptcy protection, can Go Airlines return to the air in two weeks

Getting bankruptcy protection, can the Wadia group's low cost carrier Go Airlines Ltd send its fleet back into the air in two weeks -- as it said earlier -- is the question that needs to be answered

Govt to decide on Go First bankruptcy, lessors seeking planes fear impact

This is the first time an Indian airline has voluntarily sought bankruptcy protection to renegotiate its contracts and debts

IIIPI forms committee to recommend measures for growth of IBC ecosystem

The Indian Institute of Insolvency Professionals of ICAI (IIIPI) has constituted a committee to recommend measures to prepare the IBC ecosystem for the next phase of growth. "After over six years since inception of IBC, there is a need to consider futuristic challenges and recommend to IBBI and other authorities, changes required in the ecosystem and for preparing IIIPI and insolvency professionals to support these," IIIPI Chairman, Ashok Haldai said. IIIPI has constituted a board-level committee of its directors to recommend measures for preparing the IBC ecosystem for the next phase of growth by envisioning future changes and imperative requirements, according to a release on Tuesday. Haldai welcomed IBBI's initiative to seek public comments on changes needed in regulations under IBC 2016. IIIPI, promoted by the Institute of Chartered Accountants of India (ICAI), is the largest Insolvency Professional Agency (IPA) and frontline regulator under the Insolvency and Bankruptcy Code .

Crypto exchange Bittrex files for bankruptcy, no impact on global business

Bittrex denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts

NCLT issues notice to SpiceJet on aircraft lessor's bankruptcy petition

The National Company Law Tribunal on Monday issued a notice to SpiceJet on a petition filed by an aircraft lessor seeking initiation of insolvency resolution proceedings against the budget carrier and the next hearing is scheduled for May 17. The petition was filed by Aircastle (Ireland) Ltd. A two-member Principal bench of the NCLT headed by President Ramalingam Sudhakar issued the notice to SpiceJet and directed to list the matter on May 17 for the next hearing. A SpiceJet spokesperson said that in the Aircastle issue, notice was issued in normal course. " There was no adverse ruling against SpiceJet. The court has recognised the fact that parties are under settlement discussions and they can continue to pursue the same," he said. The latest development also comes at a time when crisis-hit rival Go First has filed for voluntary insolvency resolution proceedings. Aircastle filed the petition against SpiceJet on April 28. Last week, SpiceJet said there were no aircraft from Airc

Go Airlines asks firms's tribunal to urgently pass order on bankruptcy plea

Go Airlines asked country's company law tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to take back planes, per the court hearing

Go First locks horns with lessors in a bid to begin bankruptcy hearings

NEW DELHI (Reuters) - Indian airline Go First's effort to start insolvency proceedings has become ensnared in a tussle with aircraft lessors after they asked the aviation regulator to deregister some of its planes as a step towards taking them back.

Go First pilots rush to Air India's job drive after it files for bankruptcy

Go First's announcement on Tuesday that it had filed for bankruptcy as demand for post-pandemic air travel in the world's most populous country boomed came as a shock to many employees

India tribunal allows bankruptcy proceedings against Future Lifestyle

A company court on Thursday admitted Bank of India Ltd's petition to begin insolvency proceedings against Future Lifestyle Fashions Ltd on an alleged loan default

J&J, cancer victims ordered to start settlement talks in bankruptcy

A federal judge ordered a new round of settlement talks between Johnson & Johnson and lawyers who spurned the company's offer to pay $8.9 billion to end tens of thousands of cancer claims

NCLT to hear cash strapped Go First Airway's insolvency plea on May 4

The National Company Law Tribunal tribunal (NCLT) on Thursday will hear cash-strapped air carrier Go First's voluntary insolvency resolution plea. The petition for initiation of voluntary insolvency resolution proceedings was mentioned before the Delhi-bench headed by President Justice Ramalingam Sudhakar. The bench has agreed to an urgent hearing and directed to list the matter on Thursday for hearing. The Wadia group-owned carrier has moved the National Company Law Tribunal (NCLT), Delhi, seeking voluntary insolvency resolution proceedings. Section 10 of the Insolvency & Bankruptcy Code, allows a debtor to initiate an insolvency resolution process against itself if it has committed any default. Go First is the second major scheduled airline after Jet Airways to seek resolution under insolvency proceedings. The airline, which has been grappling with engine issues since January 2020, said it has been forced to move the NCLT as P&W refused to comply with an order issued by the .

SpiceJet plans to revive 25 planes as Go First files for bankruptcy

SpiceJet has 31 planes in 'storage', has mobilised around Rs 400 cr for getting them back in the air

Singapore's Vantage Point is highest bidder for bankrupt SKS Power

Reliance Industries, Adani Group, NTPC avoid aggressive offers for Chhattisgarh power company

Trading strategies for Aviation stocks amid Go First bankruptcy

Indigo shares may hit a new historic peak once it settles over Rs 2,200 level.

Top Headlines: Go First's bankruptcy, extension on Adani row probe and more

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Go First Airways owes financial creditors $798 mn, shows bankruptcy filing

Lenders were not aware of the airline's plans to file for voluntary insolvency and will meet soon to take stock of the situation, the report said

J&J accused by US of misusing bankruptcy to end talc cancer suits

J&J has an $8.9 billion settlement agreement with the "vast majority" of the law firms representing talc claimants, said the company's head of litigation

J&J accused by US of misusing bankruptcy to end talc cancer suits

The healthcare products maker is trying for the second time to get itself out of a jam as cheaply as possible, using the Chapter 11 filing of LTL Management

Vice Media heading for bankruptcy if it fails to find a buyer: Reports

"More than five companies have expressed interest in acquiring Vice, according to a person briefed on the discussions. The chances of that, however, are growing increasingly slim"