The tribunal has asked Aircastle’s lawyer to explain how the plea is maintainable with some legal precedents, the case is likely to come up for hearing on July 17.
The National Company Law Tribunal (NCLT) on June 13 questioned the maintainability of aircraft lessor Aircastle (Ireland) Limited’s second insolvency petition against SpiceJet.
The tribunal has asked Aircastle’s lawyer to explain how the plea is maintainable with some legal precedents, the case is likely to come up for hearing on July 17.
According to the tribunal, a creditor is entitled to file one insolvency plea at a time and if the corporate debtor is admitted to insolvency, the creditor could lodge a consolidated claim with the resolution professional.
The tribunal…
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