Monday, July 03, 2023

The Dichotomy Between Insolvency Laws And Capetown Convention Amidst GoFirst Insolvency

The recent order of the Delhi NCLT, dated May 10, 2023, ordered a moratorium on Go First's assets and did not allow the lessors of Go First aircraft to take the aircraft back from Go First. The lessors filed an appeal against the NCLT order, which was also heard by NCLAT, but NCLAT upheld the order of NCLT Delhi. This interpretation of the NCLT Order that the aircraft leases are the property of Go First and therefore the moratorium applied, is in conflict with the Cape Town Convention.

This article stresses the need for reforming the aircraft laws of India to make it a more amenable jurisdiction for aircraft lessors. Read >>

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