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How Jet Airways Killed Five Birds With One Stone
In the last three months, Jet Airways has been allowed to carry out transactions that are unthinkable under insolvency law.
12 Aug 2020, 12:29 PM IST
In the last three months, insolvent Jet Airways (India) Ltd. sold one of its non-core assets, settled with one of its lenders and repaid another. All this is unthinkable for a company under insolvency resolution since the law prohibits sale of assets and settlements with select creditors while proceedings are ongoing.But some creative thinking from the resolution professional, a reasonable creditors’ committee and the court’s blessin...
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