INSUBCONTINENT EXCLUSIVE:
is still in its evolving stage, Jet Airways would be the first Indian company to undergo insolvency proceedings under the Cross Border
Insolvency Protocol along with the Insolvency and Bankruptcy Code (IBC) of India.The National Company Law Appellate Tribunal (NCLAT) had
allowed the Dutch court administrator of Jet Airways to attend the meetings of the bankrupt airline's Committee of Creditors (CoC)
The resolution professional and the Dutch administrator, however, filed an application seeking an amendment in the September 26 order
the order to clarify that the resolution process would be carried on in accordance with 'Insolvency and Bankruptcy Code, 2016' and the
'Cross Border Insolvency Protocol', seeking the inclusion of 'Cross Border Insolvency Protocol' in the paragraph, along with 'Insolvency and
'Resolution Professional of India' and, if any, suggestion is required to be given, he may give it to the 'Resolution Professional'
this appellate tribunal and it would be mandatory to comply with the order of this Appellate Tribunal subject to the other procedures which
It was declared bankrupt there after it had failed to pay two European creditors
Airways owes over Rs 8,000 crore to its lenders
Besides the lenders, the airline is estimated to have a total liability of about Rs 25,000 crore which includes dues of operational
