In a recent case involving PT Garuda, the national airline of Indonesia, the New South Wales Court of Appeal dismissed an appeal by two creditors seeking to wind-up the airline, concluding that PT Garuda enjoyed immunity under the Foreign States Immunities Act 1985 (Cth). Key takeaways Foreign companies that are separate entities of a foreign…
Delays in developing an enhanced framework for sovereign debt restructuring are preventing distressed countries from ensuring sustainable sovereign debt stocks and regaining access to international capital markets, leaving their sovereign credit ratings in default or near a default grade for longer periods. This adds to the human costs of default, contributing to risk of a…
Cash-strapped budget carrier Go First is all set to challenge the Delhi High Court’s ruling permitting its lessors to inspect the aircraft as there are inconsistencies with the order passed by the National Company Law Tribunal in the case, reported PTI citing the grounded airline’s resolution professional. Go First stopped flying on 3 May and…