Engine LessorWillis Lease Finance Corporation (WLFC) Tuesday argued that the insolvency petition filed by the company against airline Spicejet before the National Company Law Tribunal was maintainable, and the demand notice issued by the lessor could not be questioned.
The reply came in response to the arguments made by Spicejet questioning the maintainability of WLFCs petition to initiate insolvency proceedings against the airline for failure to pay lease rent.
The senior counsel arguing for the engine lessor claimed that a fresh demand notice, as contended by Spicejet counsel, was not needed as the earlier notice issued by the lessor contained specifics of the 107 invoices on which Spicejet defaulted and had no new additions to the list….
Read the full article at: https://m.economictimes.com/industry/transportation/airlines-/-aviation/engine-lessor-wlfc-tells-nclt-insolvency-petition-against-spicejet-maintainable-demand-notice-cannot-be-questioned/articleshow/102538774.cms