The airline has moved a Delaware court to enforce the arbitration ruling, but has run short of funds to pursue the case after it stopped flying in May. The idea of litigation finance was suggested by Go Firsts resolution professional since all the current parameters are pointing towards liquidation” as the only alternative left, one of the two people said.
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M 12,000 crore is due to the airline but stuck in litigation. Even if 50-60% of this comes, lenders can recover a large part of their dues and the outstanding payments can be completed,” the first of the two people said on the condition of anonymity.
The suggestion is that existing legal costs can be paid off to lawyers by the lenders, …
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